Credit unions continue to press the Consumer Financial Protection Bureau for regulatory relief, arguing that existing exemptions have not gone far enough.
In a rare move, the credit union regulator is asking the CFPB for exemptions for credit unions from expanded HMDA requirements and unfair and deceptive acts authority.
Federal regulators are early in the process of deciding whether to broaden credit unions' access to capital markets, but banking lobbyists have seen enough to argue that it would let credit unions skirt business-lending limits.
The trade association's lawsuit challenging new field-of-membership rules may have the opposite effect, as more credit unions consider expansion before the litigation is resolved.
The National Credit Union Administration and credit union trade groups cheered a judge's decision to dismiss a lawsuit against the agency's member business lending rule, but ICBA is still mulling the possibility of an appeal.
