Preserving the credit union tax exemption is at the top of NAFCU’s list of priorities for 2016, which also includes pushing for regulatory relief and advocating for national data security standards for merchants.

NAFCU will also continue to push for clear Dodd-Frank Act guidance from regulators, ensure secondary mortgage market access for credit unions, and advance field-of-membership reform.

“NAFCU and its members achieved several legislative and regulatory victories in 2015,” said NAFCU President and CEO Dan Berger. “We advanced a key aspect of NAFCU’s five-point plan for regulatory relief for credit unions when President Obama signed into law a transportation authorization bill that includes the text of the “Eliminate Privacy Notice Confusion Act,” legislation clarifying that consumers will receive privacy notices after opening a new account and when their providers’ privacy policies change.

He continued, “Additionally, as urged by NAFCU, the CFPB agreed to immediately recognize statutory changes to privacy notice requirements for credit unions to avoid confusion with superseded requirements.”

 

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