Trade group urges regulator to use efficient information collection methods to ease response burden on credit unions.
Credit unions could suffer unfair risks to their reputation and consumers might have confidential data released.
Parts of a proposed Federal Reserve regulation that would require credit unions to reduce the hold time on certain checks could increase the incidents of fraud and threaten safety and soundness, according to letters from CUNA, NAFCU and several credit unions.
CUNA and NAFCU are asking the Fed for more time and some changes in upcoming rules on pricing disclosures.
CUNA cites compliance costs in asking Fed to delay new rules for disclosing scores when disclosing prices.