WASHINGTON–The legislative action that will be watched most closely this week won’t be in the nation’s capital, but instead in the 45 state capitals, according to CUNA.
Ryan Donovan, chief advocacy officer with CUNA, said there are more than 800 bills that could affect credit unions in one way or another before the various state legislatures that are currently meeting.
In Connecticut, Georgia and Oklahoma, for instance, Donovan said lawmakers are considering legislation related to strengthening laws around data breaches. In Georgia, there is a bill before lawmakers that would improve the operational environment for credit unions.
Meanwhile, in other news from Washington:
- Donovan said that while the Independent Community Bankers of America (ICBA) have indicated they may appeal a ruling that dismissed a lawsuit the bankers filed over NCUA’s member business lending rules, CUNA believes the success of such an appeal would be “remote.”
- The House this week is scheduled to use various procedures to repeal certain Obama administration regulations, none of which are financial services related.
- The Senate Small Business and Entrepreneurship committee this week will vote on the nomination of Linda McMahon to lead the SBA.
- CUNA plans to file a comment letter with the FCC related to a petition calling for reconsideration of modifications to the Telephone Consumer Protection Act.
- Donovan noted the CFPB continues to seek applicants for its Credit Union Advisory Council.
Also in Washington this week:
-
NAFCU’s Alexander Monterrubio and Brandy Bruyere will meet with Department of Defense staff during a joint trades meeting Wednesday to discuss the implementation status of the Military Lending Act rule changes and to note any concerns about the upcoming Oct. 3 credit card compliance deadline.
Monterrubio, NAFCU’s director of regulatory affairs, and Bruyere, director of regulatory compliance, will also press for more clarity regarding the MLA changes. NAFCU has a host of MLA compliance resources available to credit unions regarding rule changes. - NCUA says it will focus on credit union compliance with the MLA and the Servicemembers’ Civil Relief Act as part of its supervisory priorities for 2017.
- Tomorrow, NAFCU’s regulatory affairs team will update webcast attendees on what they can expect this year from the CFPB and NCUA and how rulemakings will impact credit unions’ compliance and lending departments.
The 2 p.m. ET webcast, sponsored by NAFCU Services Corporation, will be led by Monterrubio, Senior Regulatory Affairs Counsel Michael Emancipator, and Regulatory Affairs Counsels Ann Kossachev and Andrew Morris. The webcast will also update credit unions on NAFCU’s stance against a National Credit Union Share Insurance premium charge this year and will explore President Donald Trump’s regulatory agenda