January 10, 2017

Berger outlines 2017 regulatory advocacy focus

NAFCU President and CEO Dan Berger told members Tuesday that the association will continue to "directly take on federal regulatory burden and forcefully represent credit union interests at every available opportunity" in an email that also highlighted some of the association's efforts over the past year.

Regarding the NCUA, Berger said the ultimate goal is to minimize the regulatory burden and push the agency to be more efficient in how it spends credit unions' dollars. He said part of this effort is to ensure the agency exhausts all available options before charging credit unions a National Credit Union Share Insurance Fund premium this year. He also pointed credit unions to NAFCU's NCUA Money Watch page, which provides up-to-date analysis of the NCUA's budget and finances.

Berger also discussed other NCUA issues, including field of membership, member business lending, cybersecurity examinations, exam procedures and risk-based capital reform.

Noting the CFPB, Berger said NAFCU will remain engaged on any changes to the bureau that may occur with any Dodd-Frank Act reforms. "NAFCU has been and will be an active participant in CFPB reform discussions, ensuring credit unions receive due consideration and meaningful relief from the regulatory burdens imposed by the Bureau," Berger wrote.

Berger highlighted NAFCU's efforts to have the bureau use its Dodd-Frank Act authority to exempt credit unions from certain rulemakings, including those addressing payday lending, debt collection and overdraft. He also provided updates on these rules and others addressing arbitration and Home Mortgage Disclosure Act requirements.

The NAFCU president also noted activities at other regulators, including the Federal Housing Finance Agency, Department of Defense and Federal Communications Commission, and NAFCU's continued push for clarity regarding regulations that affect credit unions.