Tag Archives: Credit Unions

The National Association of Federal Credit Unions VP of Legislative Affairs, Brad Thaler, sent a letter to the Committee on Ways and Means Subcommittee on Tax Policy, urging them to keep the credit union federal tax exemption as they consider tax reform proposals.

The NAFCU reported earlier this week that since the second quarter of 2010, more than 1,350 federally-insured credit unions have been lost, 96 percent of which had below $100 million in assets.

The relationship between the regulator for credit unions, the Credit Union National Association (CUNA), and the CFPB has been a rocky one since the Bureau’s formation nearly five years ago.

A bipartisan group of U.S. Representatives is urging NCUA Chairman Debbie Matz to allow well-run credit unions to qualify for the 18-month exam cycle.

The Dallas Fed report concluded that many community financial institutions may be “too small to succeed” in the era of the “regulatory onslaught” brought on by Dodd-Frank.

The Consumer Financial Protection Bureau (CFPB) launched its consumer complaint database in July 2012, one year after beginning operations, and it began publishing complaint narratives in June 2015. Some financial companies expressed concern over the Bureau's publishing of complaint narratives ...

U.S. Senators Mike Rounds (R-South Dakota) and Angus King (I-Maine) have introduced a bill that would give community banks, small businesses, and credit unions a say in the Consumer Financial Protection Bureau (CFPB)'s rulemaking process.

In a letter to the National Credit Union Administration (NCUA), National Association of Federal Credit Unions (NAFCU) Director of Regulatory Affairs Alicia Nealon encouraged the NCUA to use its 2015 Regulatory Review as an opportunity to provide credit unions with regulatory relief.

The Bureau had also received many requests from lawmakers, lenders, and other mortgage industry professionals who are concerned with their ability to become fully compliant with the requirements of the rule in time for the original August 1 effective date.

During a hearing spread out over two days at the U.S. Senate Committee on Banking, Housing, and Urban Affairs on February 10 and 12, Committee chair Richard Shelby (R-Alabama) pointed out a “bipartisan understanding” that financial institutions need relief from perceived overregulation.