NATIONAL ASSOCIATION OF FEDERALLY-INSURED CREDIT UNIONS (FKA NAT'L ASSN OF FEDERAL CREDIT UNIONS) for NATIONAL ASSOCIATION OF FEDERALLY-INSURED CREDIT UNIONS

Banking BAN

National Credit Union Administration (NCUA) proposed rule to amend Part 704 of the corporate credit unions regulation; Federal Housing Finance Agency (FHFA) proposal on federal home loan bank requirements; The Electronic Payments Association (NACHA) request for comments on Same Day ACH; NCUA and perceived risks in the credit union system; Examination for Consumer Financial Protection (CFPB) rulemaking relative to the integrated Truth in Lending Act and Real Estate Settlements Procedures Act (TILA/RESPA) mortgage forms; CFPB temporary suspension of the submission of credit card agreements under TILA (Reg Z); Consumer Financial Protection (CFPB) rulemaking relative to the integrated Truth in Lending Act and Real Estate Settlements Procedures Act (TILA/RESPA) mortgage forms; NCUA regulation review under the Economic Growth and Regulatory Paperwork Reduction Act; CFPB request for comment on Prepaid Accounts under the Electronic Fund Transfer Act and TILA; CFPB amendments relating to small creditors and rural or underserved areas under TILA; CFPB and safe student banking; NCUA revised risk-based capital proposal; credit union tax exemption; regulatory relief for credit unions; capital reform and risk based capital; data and cyber security; housing finance reform; member business lending; patent reform; demand letters relative to patent reform; credit unions and prevention of financial exploitation of seniors; Small Business Regulatory Flexibility Improvements Act (H.R. 527); Federal Housing Administrations lock-our period for borrows; strategic default with respect to government housing loans; NAFCUs 5 Point Plan for Regulatory Relief - Capital Reforms for Credit Unions, Field of Membership Improvements for Credit Unions, Reducing CFPB Burdens on Credit Unions, Operational Improvements for Credit Unions, and 21st Century Data Security Standards; NAFCUs Top Ten regulations to amend or eliminate - Improving the process for credit unions seeking changes to their field of membership; Providing More Meaningful Exemptions for Small Institutions; Expanding credit union investment authority; Increasing the number of Reg D transfers allowed; Additional regulatory flexibility for credit unions that offer member business loans; Updating the requirement to disclose account numbers to protect the privacy of members; Updating advertising requirements for loan products and share accounts; Improvements to the Central Liquidity Facility (CLF); Granting of waivers by NCUA to a federal credit union to follow a state law; and Updating, simplifying and making improvements to regulations governing check processing and fund availability. CFPB use of exemption authority for credit unions; Small Business Administration lending programs including the 7(a) program; Credit Union Small Business Jobs Creation Act (H.R. 1188); supplemental capital for credit unions; Financial Product Safety Commission Act (H.R. 1266); Bureau of Consumer Financial Protection Act (H.R. 1261); Consumer Financial Protection Safety and Soundness Improvement Act (H.R. 1263); applying requirements of the Federal Advisory Committee Act to CFPB (H.R. 1265); exempting loans made to veterans from the credit union member business lending cap (H.R. 1133); Privacy Notice Modernization Act of 2015 (S. 423); Eliminate Privacy Notice Confusion Act (H.R. 601); NCUA budget transparency; NCUA Budget Transparency Act (H.R. 1176); Mortgage Choice Act (H.R. 685); Capital Access for Small Businesses and Jobs Act (H.R. 989); Financial Institution Customer Protection Act of 2015 (H.R. 766); Portfolio Lending and Mortgage Access Act (H.R. 1210); CLEARR Act of 2015 (H.R. 1233); Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2015 (S.482); Mortgage Servicing Asset Capital Requirements Act (H.R. 1408); Community Institution Mortgage Relief Act (H.R. 1529); Preserving Access to Manufactured Housing Act (H.R. 650); Helping Expand Lending Practices in Rural Communities Act (H.R. 1259); SAFE Confidentiality and Privileged Enhancement Act (H.R. 1480); Bureau of Consumer Financial Protection Advisory Boards Act (H.R. 1195); Searching for and Cutting Regulations that are Unnecessary and Burdensome Act (H.R. 1155); Financial Products Safety Commission Act (H.R. 1266); HELP Rural Communities Act (S 871); NCUA wavier process for member business lending purposes; HMDA changes going beyond the Dodd-Frank Act; CFPB legal opinion letters; DoD military lending act proposed rule; encouraging regulatory coordination at the Financial Services Oversight Council; credit unions and retirement planning education; robust cost benefit analysis at the regulatory agencies; Federal Reserve Board Regulation E; CFPBs qualified mortgage definition; CFPBs remittance transfer rules; indexing arbitrary Dodd-Frank asset threshold for inflation; House Energy and Commerce Committee discussion draft, the Data Security and Breach Notification Act of 2015; FHA mortgage insurance premiums; Regulatory Accountability Act of 2015 (H.R. 185); Federal Emergency Management Agencys Standard Flood Hazard Determination Form; Fannie Mae and Freddie Mac guarantee fees; examination fairness for credit unions; Financial Institutions Examination Fairness and Reform Act (S.774); relief from Operation Choke point; Military Lending Act; Servicemembers Civil Relief Act; National Defense Authorization Act for Fiscal Year 2016 (H.R. 1735);A bill to provide regulatory relief for certain financial institutions, and for other purposes (S.927).

Contacted: Government Accountability Office (GAO); Housing & Urban Development, Dept of (HUD); Small Business Administration (SBA); Defense, Dept of (DOD); Treasury, Dept of; Homeland Security, Dept of (DHS); Federal Housing Finance Agency (FHFA); Federal Deposit Insurance Corporation (FDIC); White House Office; Internal Revenue Service (IRS); Office of the Comptroller of the Currency (OCC); Financial Crimes Enforcement Network (FinCEN); Justice, Dept of (DOJ); Securities & Exchange Commission (SEC); HOUSE OF REPRESENTATIVES; Commodity Futures Trading Commission (CFTC); Federal Reserve System; SENATE; Federal Trade Commission (FTC); Natl Credit Union Administration (NCUA)

Bills named: H.R. 1263 (114th), S. 482 (114th), H.R. 1261 (114th), H.R. 1188 (114th), H.R. 766 (114th), H.R. 527 (114th), H.R. 1265 (114th), H.R. 601 (114th), H.R. 1480 (114th), S. 927 (114th), H.R. 650 (114th), H.R. 1133 (114th), H.R. 685 (114th), S. 423 (114th), H.R. 1210 (114th), H.R. 1195 (114th), H.R. 1529 (114th), H.R. 185 (114th), H.R. 1233 (114th), S. 774 (114th), H.R. 1155 (114th), H.R. 1266 (114th), H.R. 1735 (114th), H.R. 1176 (114th), H.R. 1259 (114th), H.R. 1408 (114th), H.R. 989 (114th)

Financial Institutions/Investments/Securities FIN

National Credit Union Administration (NCUA) proposed rule to amend Part 704 of the corporate credit unions regulation; Federal Housing Finance Agency (FHFA) proposal on federal home loan bank requirements; The Electronic Payments Association (NACHA) request for comments on Same Day ACH; NCUA and perceived risks in the credit union system; Examination for Consumer Financial Protection (CFPB) rulemaking relative to the integrated Truth in Lending Act and Real Estate Settlements Procedures Act (TILA/RESPA) mortgage forms; CFPB temporary suspension of the submission of credit card agreements under TILA (Reg Z); Consumer Financial Protection (CFPB) rulemaking relative to the integrated Truth in Lending Act and Real Estate Settlements Procedures Act (TILA/RESPA) mortgage forms; NCUA regulation review under the Economic Growth and Regulatory Paperwork Reduction Act; CFPB request for comment on Prepaid Accounts under the Electronic Fund Transfer Act and TILA; CFPB amendments relating to small creditors and rural or underserved areas under TILA; CFPB and safe student banking; NCUA revised risk-based capital proposal; credit union tax exemption; regulatory relief for credit unions; capital reform and risk based capital; data and cyber security; housing finance reform; member business lending; patent reform; demand letters relative to patent reform; credit unions and prevention of financial exploitation of seniors; Small Business Regulatory Flexibility Improvements Act (H.R. 527); Federal Housing Administrations lock-our period for borrows; strategic default with respect to government housing loans; NAFCUs 5 Point Plan for Regulatory Relief - Capital Reforms for Credit Unions, Field of Membership Improvements for Credit Unions, Reducing CFPB Burdens on Credit Unions, Operational Improvements for Credit Unions, and 21st Century Data Security Standards; NAFCUs Top Ten regulations to amend or eliminate - Improving the process for credit unions seeking changes to their field of membership; Providing More Meaningful Exemptions for Small Institutions; Expanding credit union investment authority; Increasing the number of Reg D transfers allowed; Additional regulatory flexibility for credit unions that offer member business loans; Updating the requirement to disclose account numbers to protect the privacy of members; Updating advertising requirements for loan products and share accounts; Improvements to the Central Liquidity Facility (CLF); Granting of waivers by NCUA to a federal credit union to follow a state law; and Updating, simplifying and making improvements to regulations governing check processing and fund availability. CFPB use of exemption authority for credit unions; Small Business Administration lending programs including the 7(a) program; Credit Union Small Business Jobs Creation Act (H.R. 1188); supplemental capital for credit unions; Financial Product Safety Commission Act (H.R. 1266); Bureau of Consumer Financial Protection Act (H.R. 1261); Consumer Financial Protection Safety and Soundness Improvement Act (H.R. 1263); applying requirements of the Federal Advisory Committee Act to CFPB (H.R. 1265); exempting loans made to veterans from the credit union member business lending cap (H.R. 1133); Privacy Notice Modernization Act of 2015 (S. 423); Eliminate Privacy Notice Confusion Act (H.R. 601); NCUA budget transparency; NCUA Budget Transparency Act (H.R. 1176); Mortgage Choice Act (H.R. 685); Capital Access for Small Businesses and Jobs Act (H.R. 989); Financial Institution Customer Protection Act of 2015 (H.R. 766); Portfolio Lending and Mortgage Access Act (H.R. 1210); CLEARR Act of 2015 (H.R. 1233); Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2015 (S.482); Mortgage Servicing Asset Capital Requirements Act (H.R. 1408); Community Institution Mortgage Relief Act (H.R. 1529); Preserving Access to Manufactured Housing Act (H.R. 650); Helping Expand Lending Practices in Rural Communities Act (H.R. 1259); SAFE Confidentiality and Privileged Enhancement Act (H.R. 1480); Bureau of Consumer Financial Protection Advisory Boards Act (H.R. 1195); Searching for and Cutting Regulations that are Unnecessary and Burdensome Act (H.R. 1155); Financial Products Safety Commission Act (H.R. 1266); HELP Rural Communities Act (S 871); NCUA wavier process for member business lending purposes; HMDA changes going beyond the Dodd-Frank Act; CFPB legal opinion letters; DoD military lending act proposed rule; encouraging regulatory coordination at the Financial Services Oversight Council; credit unions and retirement planning education; robust cost benefit analysis at the regulatory agencies; Federal Reserve Board Regulation E; CFPBs qualified mortgage definition; CFPBs remittance transfer rules; indexing arbitrary Dodd-Frank asset threshold for inflation; House Energy and Commerce Committee discussion draft, the Data Security and Breach Notification Act of 2015; FHA mortgage insurance premiums; Regulatory Accountability Act of 2015 (H.R. 185); Federal Emergency Management Agencys Standard Flood Hazard Determination Form; Fannie Mae and Freddie Mac guarantee fees; examination fairness for credit unions; Financial Institutions Examination Fairness and Reform Act (S.774); relief from Operation Choke point; Military Lending Act; Servicemembers Civil Relief Act; National Defense Authorization Act for Fiscal Year 2016 (H.R. 1735; A bill to provide regulatory relief for certain financial institutions, and for other purposes (S.927).

Contacted: Financial Crimes Enforcement Network (FinCEN); Federal Housing Finance Agency (FHFA); Internal Revenue Service (IRS); Commodity Futures Trading Commission (CFTC); White House Office; HOUSE OF REPRESENTATIVES; Treasury, Dept of; Securities & Exchange Commission (SEC); Natl Credit Union Administration (NCUA); Small Business Administration (SBA); Government Accountability Office (GAO); Homeland Security, Dept of (DHS); Defense, Dept of (DOD); Justice, Dept of (DOJ); Federal Trade Commission (FTC); Federal Deposit Insurance Corporation (FDIC); Office of the Comptroller of the Currency (OCC); SENATE; Federal Reserve System; Housing & Urban Development, Dept of (HUD)

Bills named: H.R. 1408 (114th), H.R. 1210 (114th), S. 482 (114th), H.R. 1259 (114th), H.R. 1261 (114th), H.R. 1480 (114th), H.R. 1233 (114th), H.R. 1188 (114th), H.R. 1529 (114th), H.R. 527 (114th), H.R. 685 (114th), H.R. 1155 (114th), H.R. 1266 (114th), H.R. 1263 (114th), H.R. 766 (114th), H.R. 1195 (114th), S. 927 (114th), S. 774 (114th), H.R. 1176 (114th), H.R. 601 (114th), H.R. 650 (114th), H.R. 185 (114th), S. 423 (114th), H.R. 1735 (114th), H.R. 1265 (114th), H.R. 1133 (114th), H.R. 989 (114th)

Taxation/Internal Revenue Code TAX

credit union tax exemption; retention of the credit union tax exemption in any reform efforts; Senate Finance tax reform working groups.

Contacted: Defense, Dept of (DOD); Treasury, Dept of; Housing & Urban Development, Dept of (HUD); Federal Trade Commission (FTC); White House Office; SENATE; Natl Credit Union Administration (NCUA); Federal Deposit Insurance Corporation (FDIC); Commodity Futures Trading Commission (CFTC); Securities & Exchange Commission (SEC); Federal Reserve System; Financial Crimes Enforcement Network (FinCEN); Justice, Dept of (DOJ); Government Accountability Office (GAO); Small Business Administration (SBA); Homeland Security, Dept of (DHS); Federal Housing Finance Agency (FHFA); Office of the Comptroller of the Currency (OCC); HOUSE OF REPRESENTATIVES; Internal Revenue Service (IRS)