On June 21, 2019, the Defense Manpower Data Center (DMDC)  announced that on June 27, 2019, it would make significant changes to the  Military Lending Act (MLA) website to enhance security of the site and better protect the personal information of servicemembers. All users of the site will be required to create user accounts, which will be required to access both the Single Record Request and the Multiple Record Request capabilities of the site. In addition to the username, password, company name, and challenge questions currently required to create a user account, beginning June 27, 2019, new MLA website users will be required to supply the user's first name, last name, address, and e-mail address in order to create an account. Starting around mid-August 2019, existing MLA website users will be required to update their accounts with the additional fields.

 

Source: DMDC

Earlier this month, the  National Credit Union Administration Board approved a  proposed rule delaying the effective date of its risk-based capital rule to January 1, 2022. The Board first approved the risk-based rule in October 2015, but voted in 2018 to delay the effective date to January 1, 2020. Comments on the proposal will be accepted for 30 days after publication. It was scheduled for  Federal Register  publication on 6/26/2019, with comments due by 7/26/19.

 

Source: NCUA

The IRS has posted a  warning that nearly two million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the Internal Revenue Service continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year. Under the Protecting Americans from Tax Hikes (PATH) Act, ITINs that have not been used on a federal tax return at least once in the last three consecutive years will expire December 31, 2019. ITINs with middle digits 83, 84, 85, 86 or 87 that have not already been renewed will also expire at the end of the year. Affected taxpayers who expect to file a tax return in 2020 must submit a renewal application as soon as possible. Additional details are available on the  IRS ITIN information page.

 

Source: IRS

6 ^th Circuit Schedules Arguments in CU ADA Cases

NCUA’s Proposed, Pending and Recently Final Regulations



CUNA’s 2019 Advocacy Agenda

To stay abreast of the issues on which CUNA has provided input to lawmakers and regulators, here is a list of those topics .

 

CUNA Advocacy Update

The CUNA Advocacy Update is published at the beginning of every week and keeps you on top of the most important changes in Washington for credit unions--and what CUNA is doing to monitor, analyze, and influence government agencies and federal law. To receive this update, click on “Get CUNA Updates” on the CUNA Advocacy page . Additional Advocacy efforts may also be found under CUNA’s Removing Barriers blog . With the recent updates to CUNA’s website, Advocacy information has also changed. To view recent advocacy issues and see ways your credit union can become involved, visit the Priorities or Actions pages.