WASHINGTON–America’s Credit Unions and the Defense Credit Union Council have joined with the American Bankers Association, American Financial Services Association, the Bank Policy Institute and the Independent Community Banker of America in a joint letter to the FCC on the STIR/SHAKEN framework in which they call out the lack of significant reduction in fraudulent calls since implementing the rules.
The Recommendations
Several other organizations are also signatories on the letter. The STIR/SHAKEN framework essentially targets spam calls.
The letter suggests improvements to strengthen STIR/SHAKEN, including:
- That the Commission judge the success of STIR/SHAKEN not only by technical authentication metrics, but also by measurable reductions in illegal robocalls and spoofed traffic.
- That a firm deadline be set for all voice providers to migrate from legacy TDM networks to IP-based networks, since STIR/SHAKEN only functions over IP.
- That there be stronger enforcement against improper call attestations, including meaningful penalties and tighter entry and ongoing compliance standards for the Robocall Mitigation Database.
- That there be clearer, more consistent Know-Your-Customer guidance so providers must conduct robust due diligence before allowing traffic on their networks.
- That caller authentication be expanded beyond numbers to include branded calling and Rich Call Data that display verified caller names, logos, and call purposes, with universal IP connectivity and standardized, affordable implementation.
- That exemptions that let providers avoid STIR/SHAKEN obligations, including those tied to SPC token access and non-IP networks, be eliminated.
- That the Secure Telephone Identity-Governance Authority by strengthened improving transparency, preventing token misuse, and adding board representation for enterprise callers and consumer protection organizations.
More Than an ‘Annoyance’
“Illegal robocalls aren’t just an annoyance. They are a direct threat to members, especially military families who are already navigating unique financial challenges,” Anthony Hernandez, DCUC president/CEO, said in a statement. “Credit unions depend on a trustworthy phone system to communicate clearly and safely with the people we serve. DCUC is committed to ensuring credit unions—and their members—are protected through strong, sensible policy reform.”
Tri-Cities Community CU Joins DCUC
Separately, DCUC said it has welcomed Tri-Cities Community (Tri-CU) Credit Union as its newest member.
Tri-CU Credit Union is a federally chartered credit union founded in 1969 by the International Brotherhood of Electrical Workers Local 112. The credit union’s name at that time was IBEW #112 Federal Credit Union, and its membership was restricted to the electricians and their families. In early 1983, the credit union’s charter was changed to include any person living or working in Kennewick, and in 1986, the name was changed to Kennewick Community Federal Credit Union.
In August 2009, the name was then changed to Tri-Cities Community Federal Credit Union, and membership was expanded to include anyone who lives, works, worships, or attends school in Benton or Franklin County, or a member’s immediate family.
In 2017, the credit union adopted an abbreviated name of “Tri-CU Credit Union.”
‘Exciting Milestone’
“Joining the Defense Credit Union Council marks an exciting milestone for Tri-CU Credit Union,” Doug Wadsworth, president/CEO of Tri-CU Credit Union, said in a statement. “As a community-focused cooperative, we are proud to stand alongside institutions that share our commitment to serving those who serve our nation. DCUC has proven to be a strong advocate for smaller credit unions, and I’m confident this partnership will enhance our ability to continue that important advocacy while strengthening our support for all community members.”
