Strong advocacy efforts from CUNA, the state leagues and the credit union movement have led to a number of victories this year, on both the legislative and regulatory fronts.

In Congress, credit unions saw regulatory relief provisions in the federal government and highway funding bills. The government funding bill includes a study of requirements involving mortgage servicing assets and cybersecurity information sharing among the government and private industry.

The highway funding package contains three regulatory relief provisions–provisions that modernize privacy notice requirements, give privately insured credit unions access to the Federal Home Loan Bank and establish a system to reduce regulatory burden for credit unions serving rural areas.

CUNA also helped:

• Move 20 pieces of credit union-supported legislation through the House Financial Services Committee and gain 15 credit union provisions to be included in the Senate Banking Committee’s regulatory relief bill, setting credit unions up for additional regulatory relief for next year and beyond;

 

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