CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Members of Congress question NCUA actions, statements on climate risks
Policy & Issues

Members of Congress question NCUA actions, statements on climate risks

February 8, 2022
Agriculture-and-outdoor-power_119219

Senators and Representatives from agriculture-producing states wrote to NCUA Chairman Todd Harper Monday with concerns over the agency’s description of regulating climate-related financial risks.

The members of Congress note farmers, ranchers, and producers across the country rely on access to their local credit unions and other financial institutions.

They add the potential for new regulations, increased examinations, and scrutiny of credit unions whose field of membership encompasses rural and agricultural communities could impact their ability to access credit.

“[S]everal of us have already heard of several of our constituent credit unions that will face an increased exam cycle solely based on their level of agricultural concentrations,” the letter reads. “Placing increased regulations on those that serve the agricultural industry will threaten to restrict access to credit in rural communities, which could have serious consequences for an industry that is already facing high inflation and increased input costs. We encourage you to continue to support agricultural lending, and not overly burden credit unions for supporting their local farmers, ranchers, agribusinesses, and their communities.”

The letter was signed by Sens. John Hoeven (R-N.D.) Kevin Cramer (R-N.D.), Bill Hagerty (R-Tenn.), John Thune (R-S.D.), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), Roger Marshall (R-Kansas), Tom Cotton (R-Ark.), Cynthia Lummis (R-Wyo.), John Boozman (R-Ark.), James Inhofe (R-Okla.), Rep. Kelly Armstrong (R-N.D.), and Rep. Dusty Johnson (R-S.D.).

CUNA—in its comments on NCUA’s strategic plan—called on NCUA to provide credit unions with additional tools to address climate related risks, and to avoid regulatory mandates or other actions that could be widely construed as “meddling.”

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • CFPB issues CUNA-opposed proposal on credit card late fees

  • Auto lending report shows significant credit union member savings

  • 2023 Credit Union Hero of the Year voting open

Tweets by CUNA_News

Polls

Vote for the 2023 CU Hero of the Year

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us