President Signs Bill with Three CU Relief Measures
Friday, President Obama signed into law a sweeping transportation bill that included three regulatory relief provisions for credit unions. First, credit unions will no longer have to send annual privacy notices to existing members unless there has been a change from the previous notice. In addition, privately-insured credit unions will now be able to join the Federal Home Loan Bank program and the CFPB must establish procedures for determining when an area is to be designated as "rural." [12/7/15]