Skip Links

Prairies: Banking Terminology: Advocating for a voluntary approach to disclosure requirements

Location Online - WebEx
Start Time 6/25/2018 9:00:00 AM
End Time 6/25/2018 10:00:00 AM
Time Zone MDT
Categories Webinars, Government Relations
Description The federal government announced in Budget 2018 that credit unions could use generic banking terms, subject to disclosure. At this time, it is unclear what these disclosure requirements will be, or when and how they will be enforced.

To ensure minimal compliance burdens, while ensuring regulators can fulfill their policy goals, CCUA is proposing that any disclosure requirements be addressed on a voluntary basis. We have already begin work on a voluntary credit union market code that will benefit the sector, consumers and policy-makers. We can address banking terminology requirements in the context of this code.

Going forward, CCUA government relations activities including Hike the Hill, Hike the Hill at Home, meetings with regulators, etc. can be used as an opportunity to highlight the need for a voluntary approach to banking terminology disclosure, in the broader context of a voluntary market code's benefits to the sector, consumers and policy makers.

This webinar will equip you with tools to advocate for this voluntary approach.

REGISTER NOW