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National Credit Union Trade Associations Announce Intent to Merge

Troutman Sanders

On August 1, the two major national credit union trade associations — the National Association of Federal Credit Unions (NAFCU) and the Credit Union National Association (CUNA) — announced plans to merge and create a new organization called America’s Credit Unions.

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Update: Members of National Credit Union Trade Associations Overwhelmingly Vote to Merge

Troutman Sanders

As discussed here , on August 1, the two major national credit union trade associations — the National Association of Federal Credit Unions (NAFCU) and the Credit Union National Association (CUNA) — announced plans to merge and create a new organization called America’s Credit Unions.

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Credit Union Trades Applaud CFPB Decision To Supervise Fintechs

Collection Industry News

The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. Response From Credit Union Trade Groups.

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Credit Union Trade Associations Move to Intervene in Case Challenging CFPB’s Enforcement of its Section 1071 Rule

Troutman Sanders

This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S.

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Congressional Republicans Receive Banking and Credit Union Trade Association Support for Legislation to Overturn the CFPB’s Section 1071 Final Rule

Troutman Sanders

While that outcome appears unlikely under the current Democratic administration, letters submitted to Congress by banking and credit union trade groups supporting the joint resolution do appear to confirm the nearly unanimous industry opposition to the Final Rule. But the clock is ticking.

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Credit Union Trade Associations Urge CFPB to Stay Implementation of its Section 1071 Final Rule

Troutman Sanders

Given the effect of the [injunction order] on the overall distribution of compliance burdens across the financial sector, we ask that you consider broader relief.”

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Credit unions and banks don’t get along, but join forces against CFPB

Collection Industry News

Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. LONG BEACH, Calif.