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Legislative Advocacy

Your Credit Union, Your Voice, Your Impact
The Leagues' Government Affairs team works diligently in Sacramento, Carson City, and Washington, D.C. We promote credit unions' legislative agenda, review hundreds of bills each year, and provide credit union leaders with opportunities to meet with legislators. Please take part in these essential advocacy efforts. (Continue to meet the staff...)
 
Federal Government Affairs

California and Nevada's voice in Washington D.C. The Leagues are the only Leagues with a full time staff dedicated to working with Congress, Government Agencies, and Federal Regulators. The resources in this area will help you keep informed of the latest developments and credit union priorities.

State Advocacy

State Government Advocacy efforts brings the voice of credit unions to Sacramento and Carson City. Our advocacy team works daily with elected officials, staff, the executive offices, gubernatorial appointees, and the decision-makers of California and Nevada. This area will keep you updated on all advocacy efforts at the state level of Government.

From the Editors of CU Weekly

HMDA INFO REPORTING REQUIREMENTS
updated 02/11/14 09:17 AM
CFPB Looks at Potential Changes
The Consumer Financial Protection Bureau announced that it is beginning to look at potential changes to Home Mortgage Disclosure Act (HMDA) reporting requirements.

Some of the changes being considered are required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. However, the CFPB is considering additional requirements, such as requiring institutions to include an explanation of rejected loan applications.

Rulemaking Process
As a first step, the CPFB is convening a panel of small lenders (credit unions and community banks) to provide feedback on potential changes. This panel is required under law when a rule under development may have significant impact on a substantial number of small entities.

The CFPB will also seek feedback from industry and consumer groups, and is consulting with other federal agencies. Credit unions can expect a proposed rule later this year.

The California and Nevada Credit Union Leagues are reviewing the proposed changes and their impact, and will keep credit unions informed of the rulemaking process and their opportunity to comment.

Changes being considered by the CFPB are categorized as “Better Information” and “Better Collection.” Under the “Better Information” category, the CFPB is considering requiring the following information:

  • Length of the loan; total points and fees; the length of any teaser or introductory interest rates; and the applicant or borrower’s age and credit score
  • More underwriting and pricing information, such as the interest rate, the total origination charges, and the total discount points of the loan
  • Explanation of rejected loan applications, whether the lender considered the loan to be a Qualified Mortgage, and additional information, such as the borrower’s debt-to-income ratio

The CFPB announcement includes several resources: a fact sheet about the changes being considered, an outline of the proposals, and list of questions on which it will seek input from the panel.

New HMDA Tool (Access to HMDA Information)
In addition, the CFPB also announced a new HMDA tool designed to provide the public easier access to mortgage data.

 
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Grassroots Advocacy
Grassroots Advocacy efforts connects you to your government. Whether issues arise at the Federal or State level, you can be an advocate for your credit union by participating in our programs. Using traditional Grassroots tactics, the Leagues connects you to our cause.
 
PAC Programs

Political Action Committees are organized for the purpose of raising and spending money to elect and defeat candidates, representing business, labor or ideological interests.

Talking Points
If your credit union would like talking points for an issue, such as member business lending (MBL) or supplemental capital, the Leagues' Consumer Advocacy Department can develop one to suit your particular needs. Please contact Public Affairs and Consumer Advocacy Specialist Tina Ramos-Ingold at tinar@ccul.org, or by phone at 909-212-6050.