GAC 2013

Cheney: CUNA Will Staunchly Defend CUs’ Tax Status

CUNA CEO outlines CUNA’s top legislative and regulatory priorities.

February 13, 2013

CUNA’s top legislative and regulatory priorities, according to CUNA President/CEO Bill Cheney, include:

  • Defending the tax status. With comprehensive tax reform on Congress’ legislative agenda, no one will be more vigilant or committed to protecting the tax exemption.
  • Reducing credit unions’ regulatory burden. CUNA will push vigorously to exempt credit unions from new Consumer Financial Protection Bureau requirements in areas in which they’re already regulated.
  • Enhancing communications to credit unions, underscored by the appointment of Paul Gentile as CUNA’s executive vice president of strategic communications and engagement. With his leadership, CUNA will redouble efforts to help all in the movement understand and participate in the three-tier system of CUNA, leagues, and credit unions.
  • Ensuring comprehensive compliance support. Working closely with the leagues, CUNA will assist credit unions in complying with new regulatory demands.
  • Enhancing the credit union charter at the state level, and promote Congressional legislation to allow supplemental capital and continue the practice of small-business loans.
  • Maintaining marketplace flexibility by opposing new price caps in any aspect of credit union operations, including interchange.
  • Engaging in housing finance reform by ensuring credit unions have continued access to the housing finance marketplace on fair and reasonable terms.
  • Building “Plan to Win,” a 535-seat strategy in which credit unions reach out to all members of Congress to press for passage of important legislation.

CUNA’s political and legislative affairs staff will discuss these and other issues during Monday afternoon’s General Session.