CUNA pushes for implementation of S. 2155 provisions
WASHINGTON, DC (October 2, 2018) — The Senate Banking Committee held a hearing on the implementation of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. Credit Union National Association (CUNA) sent a letter for the record to committee leadership acknowledging the National Credit Union Administration’s (NCUA) timely execution of several provisions.
Credit unions also await movement on consumer protection-related provisions to be fulfilled by the Bureau of Consumer Financial Protection (BCFP), specifically relating to the Home Mortgage Disclosure Act, the Truth in Lending Act Qualified Mortgage requirements, and the Truth in Lending Act-Real Estate Settlement Procedures Act (TILA-RESPA) Integrated Disclosures (TRID). CUNA’s President/CEO Jim Nussle tells Congress that credit unions support efforts that reflect prompt regulatory guidance.
CUNA’s letter commends NCUA for its swift implementation of the removal of one-to-four-unit non-owner occupied. CUNA believes NCUA has effectively managed regulating credit unions and other third-party vendors and sees no further need for additional examination authority.
Read the letter in full here.
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
