What is CUNA Mutual doing to address these issues?
CUNA Mutual is expending significant resources in support of credit union lending, including: Working aggressively with CUNA & Affiliates and NAFCU and various Leagues to pursue any potential legislative solutions that may be available Collaborating with industry groups: i. League Compliance professionals ii. CUNA’s Lending Council’s Regulatory/Compliance Committee Directly engaging data processors on these compliance issues Providing compliance input as these groups are assessing compliance requirements and exploring pragmatic solutions Through communications such as this, we will serve as a clearinghouse for ideas, convey any additional analysis we become aware of, and continue to provide answers to frequently asked questions (FAQs). What do I do with payments that are scheduled for more often than once a month (ie: weekly or bi-weekly)? The critical date is the “due date”, no matter when a member makes a payment. Based on which option you choose from above, work with your operations
