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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

Credit Union National Association: CUNA Staff Meets with CFPB

CUNA staff met with the Consumer Financial Protection Bureau (CFPB) this week to discuss the bureau’s proposals under consideration regarding payday and small-dollar loans.

During the meeting, CUNA staff provided the bureau with information on credit unions’ role in combating abusive payday lending... 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

Credit Unions Meet with Rep. Randy Forbes

Credit union representatives from Chartway Federal Credit Union and ABNB Federal Credit Union met with Congressman Randy Forbes (R-4) on Thursday in his Chesapeake office. Topics included regulatory burden, especially with the added rules handed down by the Consumer Financial Protection Bureau, inequity... More

House to Study CUNA-Backed CFPB Reform Legislation

(From the Credit Union National Association)
WASHINGTON (6/10/14)--The House Financial Services Committee will mark up six bills relating to the structure and reach of the Consumer Financial Protection Bureau June 10 starting at 10 a.m. (ET). These bills have been supported by the Credit Union National... More

WGL CEO Lynette Smith Tells Congress To Roll Back CFPB Authority

A prominent credit union executive from Virginia called on Congress Tuesday to undertake major changes to ease the authority of the fledgling Consumer Financial Protection Bureau over credit unions and banks.

"I cannot emphasize enough how burdensome and costly the unnecessary and duplicative compliance... More

CFPB Proposes CUNA-Sought Credit Rule Delay

(FROM CUNA's NEWS NOW, May 8)

The Consumer Financial Protection Bureau has favorably responded to the Credit Union National Association's recent request that the agency delay a June 1 effective date relating to the prohibition on financing certain credit insurance charges. The provision is contained... More

Cordray Calls for Financial Education in Schools

The Consumer Financial Protection Bureau is recommending that policymakers implement a nationwide financial education program into grade school as well as standardized tests.

Upon issuing a white paper Tuesday, CFPB Director Richard Cordray called the current process "utterly unacceptable"... More