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NAFCU's Regulatory Committee will meet today to discuss various issues affecting the credit union industry, including heightened litigation risks under the Americans with Disabilities Act (ADA) and the association's outlook on CFPB actions now that the bureau is under new leadership.

Many credit unions, banks and other entities have recently been targeted by plaintiff's attorneys for alleged website violations under the ADA. NAFCU has been active on this issue, engaging with various stakeholders to clarify the law's provisions related to website accessibility. NAFCU staff will provide the Regulatory Committee with an update on recent lawsuits and how the association is working to support credit unions affected by these lawsuits. (Read more here)

The committee will also discuss recent and expected actions at the CFPB with Mick Mulvaney leading the bureau in the interim. Mulvaney has already placed hiring and enforcement freezes on the bureau as he reviews its processes, and NAFCU continues to push the bureau to increase its exemption authority use and delay Home Mortgage Disclosure Act reporting, among other priorities. NAFCU staff will provide an overview of the ongoing leadership battle between Mulvaney and Leandra English, whom Richard Cordray positioned to lead the bureau as he stepped down as director. (Read more here)

Also during today's meeting:

• NAFCU staff will detail the association's continued efforts to defend the credit union tax exemption as the Senate and House work to reconcile legislative differences in their respective tax reform bills. Republicans hope to have tax reform passed by the end of this year, though a vote this week is unlikely.
• The committee will discuss various issues currently open for comment by the NCUA and CFPB, including proposed changes to the NCUA's capital planning and stress testing rule and the CFPB's efforts to gather debt collection information.