CUNA staff attended a roundtable discussion hosted by the Small Business Administration’s Office of Advocacy to discuss needed changes to Consumer Financial Protection Bureau (CFPB) rules. During the meeting, CUNA provided several credit union-specific suggestions for modifications to CFPB rules and potential rules.
The discussion focused on mortgage rules, a recent request for information on small business lending, as well as ideas for reducing regulatory burdens on credit unions and other small entities. The SBA’s Office of Advocacy has previously shared CUNA concerns about burdens created by CFPB rulemakings, particularly the short-term, small-dollar loan proposal.
Specifically, the group discussed:
  • Mortgage Servicing Rules Under the Real Estate Settlement Procedures Act (Regulation X) Assessment
  • Ability-to-Repay/Qualified Mortgage Rule Assessment
  • Dodd-Frank Section 1071 & The CFPB’s Request for Information on Small Business Lending
The office has also indicated it plans to conduct roundtables throughout the country to identify small business regulatory issues in order to assist agencies with regulatory reform, among other goals.