The Credit Union National Association (CUNA) thanked Reps. Mike Quigley (D-Ill.) and Robert Pittenger (R-N.C.) Monday for introducing a bill that would to help inform policymakers about the credit union perspective. The Small Institution Advisory Committees Act (H.R. 4950) was introduced last week by Quigley and Pittenger.
“Ensuring that policymakers within the federal government understand the impact of public policy on credit unions and their members is one of CUNA's key objectives,” wrote CUNA President/CEO Jim Nussle. “When those affected by rules, regulations and policies are afforded the opportunity to engage those responsible for developing them, the result is better policy.”
H.R. 4950 would create a Credit Union Advisory Committee and Community Bank Advisory Committee within the U.S. Treasury.
“When administration policy impacts credit unions, it also impacts a very significant portion of the American population, because the members of credit unions are also the owners of credit unions,” Nussle wrote. “This legislation represents an important step toward ensuring the concerns of credit unions and their members are taken into consideration in the development and implementation of the administration’s economic and fiscal policy.”
CUNA wrote to Quigley last week, also expressing appreciation for the legislation. In a press release announcing the bill, Quigley quoted CUNA’s letter of support.