State-chartered credit unions already have a myriad of federal and state advertising regulations to comply with and therefore shouldn't have to comply with proposed Federal Trade Commission rules aimed at nonbank institutions.
That's the argument made by CUNA and NASCUS in separate letters to the FTC.
The agency should "focus the proposed rule on filling the regulatory gaps and clarifying the expected conduct of entities lacking the robust regulatory framework of state-chartered credit unions," NASCUS President/CEO Mary Martha Fortney wrote the agency.
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