WASHINGTON (8/13/15)--CUNA President/CEO Jim Nussle said it at the beginning of the month: August is a time for powerful credit union advocacy. With lawmakers in their home districts for most of the month,CUNA has materials highlighting credit union advocacy prioritiesfor stakeholders to use during discussions.
Pending regulatory relief legislation in the House and Senate, the National Credit Union Administration’s member business lending proposal, overdraft protection and concerns with the Federal Communications Commission’s recent order on the Telephone Consumer Protection Act (TCPA) are all issues CUNA is encouraging the credit union system to discuss with members of Congress.
The House Financial Services Committee passed four CUNA-supported regulatory relief bills (H.R. 766, H.R. 1210, H.R. 1941 and H.R. 3192) before leaving for the August recess.
In addition, CUNA expects the same committee to consider two more credit union bills upon returning from recess. These are H.R. 2287, which would require the NCUA to publish a draft budget and hold a public hearing on its budget; and H.R. 2473, which would provide credit unions parity with comparable sized banks when it comes to joining the Federal Home Loan Bank (FHLB) system.
CUNA is requesting credit union stakeholders ask their legislators to co-sponsor these bills and support them when they are considered.
In the Senate, CUNA’s top priority is the Financial Regulatory Improvement Act of 2015, which was passed by the Senate Banking Committee in April. It has also been included in the Financial Services and General Government Appropriations bill.
It includes the NCUA budget bill, the FHLB parity bill, privacy notification relief and provisions that would make privately insured credit unions eligible to join the FHLB program.
CUNA is also encouraging credit unions to: