CUNA wrote in support of three bills and offered additional legislative suggestions in a letter sent to the House Financial Services Committee. The committee will hear testimony from federal regulators, including NCUA Chairman Todd Harper, at the hearing, and discuss several pieces of legislation.
The letter also reiterated CUNA’s request that NCUA act quickly to finalize its proposals on capitalization of interest and transition to the current expected credit loss (CECL) methodology.
CUNA supports the following bills under consideration:
CUNA also shared feedback on several other policies under the committee’s jurisdiction, including legislation concerning CUSO oversight, prompt corrective action, and Federal Credit Union Act modernization.
The letter also countered falsehoods spread by banking trade associations and provided an update on credit unions’ diversity, equity, and inclusion journey.