Diving deep into ongoing regulatory proposals

With regulatory relief a constant priority for credit unions looking to devote more time and resources to members, America’s Credit Unions’ Advocacy Policy Regulatory Subcommittee met Tuesday to solicit input on several pressing regulatory issues.  

The group discussed and shared feedback on: 

• The NCUA’s Deregulation Project, specifically the sixth round of proposals that includes compensation for loans, third-party servicing of vehicle loans, and post-election training for new board members. Comments on this round of proposals are due to NCUA by April 27; 
• The recent Executive Order proposing mortgage relief for credit unions and other small financial institutions. America’s Credit Unions is engaging with the NCUA, CFPB, and other regulators on implementing the order’s provisions; and
• The Federal Communications Commission proposal on foreign call centers. America’s Credit Unions is soliciting information from member credit unions and will issue a Regulatory Comment alert to inform its comments. 

The subcommittee meets every other month to examine active proposals and ensure a wide range of credit union voices are represented through the rulemaking process.