LCUL Submits Comment Letters to Agencies on Supervisory Guidance, Derivatives Rule

Sample Comment Letter Provided for Credit Unions to Submit

LCUL announced its position of approval regarding a proposed interagency rule that would codify an interagency statement on the role of supervisory guidance in November. LCUL’s Advocacy Department discussed with various entities the effects of the proposed rule on credit unions and submitted comment letters to both NCUA and CFPB to approve the proposed interagency rule.

Below are LCUL’s submission to both agencies as well as an sample letter credit unions can use to submit comment. The comment deadline to NCUA is January 4, 2021. We encourage credit union leaders to submit your own comment letter whether it be using the samples provided or your own submissions.

As a benefit of your league membership, you have access to client updates from Dollar Associates. Click here to view their client update on this matter.

Additionally, LCUL announced its position of agreeance regarding the approved adjustments on the Derivatives Rule. The League submitted a comment letter to the NCUA in support of this approved rule on November 13.

Click here to read LCUL’s submission to the NUCA.

For more information, please contact LCUL's Advocacy Department.

LCUL's Advocacy Department guards CU rights at the state and national levels. As financial laws and regulations are changed or challenged, the League is there, protecting your interests and fighting for/against issues that are important to the vitality of the industry.