WASHINGTON–With Congress at recess this week, the credit union trade groups are focused on sending comment letters and urging their member CUs to be in contact with their respective representatives in their home districts.
Both CUNA and NAFCU will be filing comments with the Federal Reserve on rules related to same-day ACH, with the Department of Education on rules related to cash management, and with the CFPB, calling on it to provide a safe harbor through year-end on its TILA/RESPA rules.
NAFCU’s Patty Briotta told CUToday.info that the association will maintain its focus on the so-called “Stop and Study” bill related to NCUA’s risk-based capital proposal, and to data security legislation, as well.
CUNA’s chief advocacy officer, Ryan Donovan, said the recess will give way to what’s expected to be a very busy July on Capitol Hill. In particular, CUNA is expecting a lot of activity around a number of appropriations-related issues, as well as a renewed focus on the CFPB as it marks its fifth anniversary.
Credit unions are also anticipating Congress to mark up one, if not two, regulatory relief bills.