CUNA provides first quarter update for MLA fee comparison spreadsheet

In September of 2017 CUNA announced that it had worked with a third party to develop an interactive MLA Fee Comparison spreadsheet for determining whether certain credit card fees they charge are considered Reasonable and Bona Fide. At the request of a number of credit unions, CUNA has agreed to update the spreadsheet on a […]

In September of 2017 CUNA announced that it had worked with a third party to develop an interactive MLA Fee Comparison spreadsheet for determining whether certain credit card fees they charge are considered Reasonable and Bona Fide.

At the request of a number of credit unions, CUNA has agreed to update the spreadsheet on a quarterly basis during 2018.

The recently-updated first quarter 2018 fee comparison spreadsheet has been downloaded in CUNA’s Compliance Community under Compliance Resources Tab and is also located under the CUNA Resources tab in the MLA topic of CUNA’s e-Guide.

In each location you will find the updated spreadsheet from the end of March 2018 as well as the initial spreadsheet from September 2017, in case you need to refer to historical data.

CUNA estimates that use of the spreadsheet will significantly reduce the time required to determine whether a credit union’s fees are “Reasonable” and Bona Fide when compared to performing the same steps manually.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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