Credit Union Central of Canada
Registration:
25
of
28
(2014-11-04
to
2015-01-09)
Legislative Proposal, Bill or Resolution
- Bank Act - federal credit union provisions. Competitiveness of credit unions, Section 427-429 Bank Act security and preparation for government's next scheduled review of federal financial institutions legislative review due in 2017.
- Bankruptcy and insolvency Act as it relates to lending practices and priority of security. Monitor and participate in the review of the Act.
- Canada Deposit Insurance Corporation (CDIC) Act. Monitor the progress of the CDIC review of deposit insurance and participate in any consultations or research initiatives. Monitor any resulting changes to the CDIC Act.
- Canadian Payments Act - Monitor work by the Department of Finance, Bank of Canada and the Canadian Payments Association to amend the Act once the Governance review is complete.
- Co-operative Credit Associations Act - proposed repeal of Part XVI and Part XVII and its implications for the credit union system. Preparation for government's next scheduled review of federal financial institutions legislative review due in 2017.
- Competition Act - merger review standards, performance and fees of the Competition Bureau as they affect credit unions, compliance programs.
- Digital Privacy Act - Monitor for impact on credit unions and credit union centrals.
- FATCA - The intergovernmental agreement established between the USA and Canada, to facilitate compliance with "The Foreign Account Tax Compliance Act (FATCA).
- Monitor the financial powers and operations of the Business Development Bank of Canada as being considered during the current statutory Parliamentary Review of the Business Development Bank of Canada Act.
- Proceeds of Crime (Money Laundering) and Terrorist Financing Act with respect to reporting and compliance obligations of credit unions and credit union centrals.
- Seeking a review of the mandate, financial powers and operations of Farm Credit Canada (FCC) and FCC's competitive position relative to credit union agricultural lenders.
- The Canada Anti-Spam Law as it relates to identity theft and related misconduct
- The Income Tax Act as it relates to the taxation of credit union's cooperatives and small business
- The Personal Information Protection and Electronic Documents Act with respect to impact on credit unions and credit union centrals
Policies or Program
- Collaborating with Financial Consumer Agency of Canada (FCAC) on Financial Literacy Month (FLM 2014) to share credit union financial literacy programs and initiatives.
- Ensuring the implementation of the federal government's "small business lens" policy framework in policy areas that impact credit unions.
- Highlighting Credit Union's Social Finance Programs
- Issues that impact the competitiveness of credit unions including: federal credit union legislation; CMHC's mortgage insurance policies; and, anti-money laundering and anti-terrorist financing legislation.
- Participated in the Department of Finance consultation on the development of a financial consumer code. Continue to monitor its development.