Regulators setting the tone early in 2024
Published by: Sean Brown
February 7, 2024 | Regulatory
Your members’ needs are best served when there is a balance between the impact and cost of regulation and the benefits it provides consumers. The best way to ensure this balance is to make your voice heard. That is why the League prioritizes engagement throughout state and federal rulemaking processes, especially when those rules could negatively impact your ability to serve your members. Specifically, 2024 is off to a fast, regulatory-heavy, start, and several pieces of proposed regulation need your attention:
- State of Ohio – ODFI Review of Credit Union Rules (Comments due February 26)
- CFPB – Fees for Instantaneously Declined Transactions (Comments due March 25)
- CFPB – Overdraft Lending: Very Large Financial Institutions (Comments due April 1)
- Federal Reserve – Debit Card Interchange & Routing (Comments due May 12)
The financial services industry is under a great deal of scrutiny, and financial cooperatives need to be heard, and their structure protected. Be on the lookout for ways to get involved.
Contact Sean Brown for questions or assistance.
