CU Priorities for BCFP Raised at SBA Roundtable

CUNA participated in a roundtable Thursday led by the Small Business Administration's Office of Advocacy to discuss the latest Bureau of Consumer Financial Protection (BCFP) rule-making agenda, which was released last month.

During the roundtable, CUNA staff outlined credit unions' priorities as they relate to the Bureau and how rules can be appropriately tailored to provide much-needed regulatory relief. 

The discussion touched on several looming regulations that impact credit unions, including:

  • Short-term, small dollar lending;
  • Home Mortgage Disclosure Act;
  • Debt collection; and
  • Defining “abusive” under Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). 

The Bureau is expected to issue proposals on some of these subjects in 2019. 

Additional details can be found on CUNA’s Removing Barriers Blog.

in Compliance & Regulatory News