The trade association, in a letter to CFPB released late Thursday, urges focus on problem lenders without sweeping new regulations. Comment deadline is Friday.
Debit card issuers with more than $10 billion in assets can charge a one-cent fraud-prevention adjustment as of Oct. 1, but not most credit unions.
Comment period ends Monday on rule that would require new agency's exams to not affect confidentiality assured under state and federal laws already.
Fed rules would affect reserve requirements; trades also ask for changes in convenience transfer limitations.
During its first month in existence, the Consumer Financial Protection Bureau has spoken softly and not carried a big stick.
CUNA and NAFCU both told the Federal Reserve that they support the Federal Reserve’s proposed definition of a qualified mortgage but want some changes to make certain parts of the rule less ambiguous.
Trades seek to forestall additional consumer regulation.
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.
The trade group sends letter to the Fed questioning clarity, necessity or proposed language in following new rule.