CUNA hopes Congress will continue to support the Small Business Administration’s (SBA) Office of Advocacy, as it has done commendable work to amplify the voices of small businesses and entities that serve them. CUNA submitted its comments to a House Small Business subcommittee Wednesday for a hearing on the SBA’s Office of Advocacy.
“The SBA’s Office of Advocacy provides a forum for credit unions and other small entities to share their perspective on impending rulemakings from federal regulatory agencies,” the letter reads. “In recent years, the Office of Advocacy has facilitated numerous meetings with small-sized stakeholders to discuss a broad range of issues, from the Consumer Financial Protection Bureau (CFPB) small business data collection rulemaking to the Department of Justice guidelines for website accessibility under the Americans with Disabilities Act.
“The Office has also been a key partner in ensuring the Small Business Regulatory Enforcement Fairness Act (SBREFA) process implemented by the CFPB is efficient and effective,” it adds. “These efforts combine to bolster the government’s understanding of the credit union business model and how proposed regulations would affect operations and service to consumers.”
CUNA also noted tailored rulemakings rely on stakeholder engagement throughout the rulemaking process.