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WASHINGTON-Credit unions are lobbying for several key pieces of legislation in the lame-duck session, but it could be a case of too little time and too much inertia.
Both CUNA and NAFCU are pushing for action on the Privacy Notification Modernization Act, which would nix requiring CUs to send members annual privacy notices by mail if no changes have been made to their policies; and the Credit Union Share Insurance Fund Parity Act, clarifying that NCUA is authorized to extend share insurance coverage to funds in interest on lawyer trust accounts. The two trade groups-along with several banking associations-are also urging Congress to tackle cyber security issues.
In addition, NAFCU is seeking changes to the Mortgage Choice Act of 2013 that would exclude affiliated title charges from the definition of "points and fees." For CUNA's part, the trade association is pressing for movement on...