Nussle responds to DoD decision on MLA guidance
WASHINGTON, DC (February 27, 2020) — Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement after the Department of Defense (DoD) announced it will withdraw a problematic question (QA2) from its Military Lending Act (MLA) guidance.
“We thank the Department of Defense for responding to CUNA’s concerns and recognizing our feedback. Credit unions still face a number of compliance burdens with the MLA regulation that are of concern, but we see this as a strong step in the right direction. CUNA will continue to work with the Department of Defense to evaluate where additional MLA compliance clarifications are necessary.”
Ongoing advocacy efforts from CUNA and the Defense Credit Union Council (DCUC) regarding this issue has had multiple touch points over the past several years. The organizations have cited the numerous conflicts and uncertainty it creates for credit unions that are struggling to comply with the DoD, Office of Management and Budget (OMB), and the Senate and House Armed Services Committees.
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.
