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Pending Regulatory Calls to Action
Wednesday, December 3, 2014 6:45 AM

Advocacy staff, including CU:ROAR teams and legislative coordinators, will want to take note of several important regulatory updates shown in the table below.

We are seeking input from credit unions on a petition to the Federal Communications Commission requesting the agency to exempt time-sensitive informational calls from the Telephone Consumer Protection Act's prior consent requirements. Comments are requested by December 8.

Also note that the Department of Defense has listened to industry concerns and extended the comment period until Dec. 26, 2014, on its pending proposal to expand the scope of its rule under the Military Lending Act.

Finally, note the IRS proposal, which will remove one of the eight components that require a credit union to file a 1099 C for discharge of indebtedness. We are greatly interested in receiving feedback on how this rule will affect your credit union.

Current Regulatory Calls to Action

Comments Due By

Petition to FCC to Exempt Time-Sensitive Informational Calls from TCPA Prior Consent Requirements

Dec. 8

CFPB Proposes Policy on No-Action Letters

Dec. 15

Department of Defense Proposes Changes to Military Lending Act Rule

Dec. 26

NCUA Issues Joint Proposal on Flood Insurance

Dec. 29

NCUA Proposes Changes to its Corporate Credit Union Rule

Jan. 5

IRS Proposes to Remove 36-Month Non-Payment Testing Period Rule

Jan. 13

 

Please refer to Cornerstone's Regulatory Grid Summary or CUNA's Comment Calls page for more details about these proposals.

Credit unions are urged to write your comment letters as soon as possible before the deadlines. If you need help in crafting your letters, or if you have questions, please contact Suzanne Yashewski, SVP Regulatory Compliance, at syashewski@cornerstoneleague.coop or (512) 853-8516.