As 2014 comes to an end, credit union trade groups are preparing to make a final inning push for Senate passage of key legislation already approved by the House.
Both NAFCU and CUNA have also vowed to renew their efforts on select bills in the new Congress with data security and protecting the credit union tax exemption topping the list of main priorities for the associations as they head into 2015.
The Privacy Notification Modernization Act, which passed the House, would change current law that requires a privacy notification be sent to a member annually. Under the bill, a credit union would only need to send a privacy notice to members if there has been a change in language from previous year. Both CUNA and NAFCU said the bill would reduce expenses for credit unions.
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