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The Advocate Blog

Bill Would Exempt Many CUs/Community Banks from CFPB Rules

WASHINGTON (7/16/15)--CUNA supports the intent of a bill introduced this week that would exempt financial institutions with less than $10 billion in assets from Consumer Financial Protection Bureau (CFPB) rules, and looks forward to working to perfect the legislation as it moves forward.

Rep. Roger Williams... More

CUNA to Congress: CFPB Hurting Consumers, Structural Changes Necessary

WASHINGTON (7/15/15)--Consumers lose when the Consumer Financial Protection Bureau (CFPB) keeps credit unions from serving them. That’s the message CUNA sent to the U.S. Senate Banking Committee Tuesday in advance of its hearing with CFPB Director Richard Cordray.

Cordray will give the bureau’s semiannual... More

Mobilize Members in Support of S. 961, H.R. 2205

Merchants are not held to the same security standards as credit unions, but we’re working to change that with the help of credit union members.With data breaches totaling more than 1 billion records last year and affecting millions of Americans, it is time for Congress to get involved and... More

Pearce-Sherman Bill Would Limit Enforcement/Litigation under TILA-RESPA Disclosure Rule

WASHINGTON (5/5/15)--Rep. Steve Pearce (R-N.M.), along with Rep. Brad Sherman (D-Calif.), introduced a bill last week that would provide a temporary delay in enforcement and a liability safe harbor period under the Consumer Financial Protection Bureau’s (CPFB) Truth in Lending Act-Real Estate Settlement... More

New Senate Bill Tackles Merchant Data Protections

WASHINGTON (5/1/15)--A coalition of six Democratic senators introduced a data protection bill Thursday that would, in part, require companies that store sensitive personal or financial information on 10,000 customers or more to meet specified consumer privacy and data security standards to keep this... More

CUNA Highlights CU Impact on Capital Formation for Hearing Record

WASHINGTON (4/30/15)--Credit unions stand ready to advance economic improvements for their members, CUNA President/CEO Jim Nussle told members of the U.S. House in a letter sent Wednesday.

The letter was sent for the record of a House Financial Services subcommittee on capital markets and government... More

Shelby Says QM Tweaks on Table for Reg Relief

Senate Banking Committee Chairman Richard Shelby offered a few hints Wednesday about what bankers might see in pending regulatory relief legislation due next month.

Shelby didn't offer many specifics about the package or where the process stands with fellow lawmakers on his committee, but did signal a... More

Aid Our Advocacy Mission: Report Your Micro-Lending Initiatives

Help us collect data on how Virginia’s credit unions are aiding members by reporting your micro-loan data through our Reality Check survey.

We ask that you report information on loans you’ve made of $3,000 or less, excluding credit cards. Please give us a hand and provide this data, which we use to... More

Credit Union Call to Action: Data Breach Legislation, S. 961

Sens. Tom Carper (D-DE) and Roy Blunt (R-MO) have introduced a data breach bill, S. 961, the Data Security Act of 2015, which strengthens merchant standards to be comparable with those of credit unions and other financial institutions. It also mandates a federal notification requirement for merchants... More

League, CUNA File RBC2 Comment Letter, Encourage CUs to Weigh-In by April 27 Deadline

Your League this week submitted its comment letter on the National Credit union Administration's revised risk-based capital plan (RBC2). CUNA submitted its comment letter Friday. While holding firm to the view that the rule is unnecessary and should be tabled, the letters offer a number of constructive... More

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