Ind. league, CUs keep reg. relief top of mind during Hill visit
WASHINGTON (7/1/15)--The need for regulatory relief--a continuing concern for credit unions and one National Credit Union Administration Chair Debbie Matz emphasized recently--was a key topic for Indiana credit unions during their May visit with the regulatory agency.
Representatives from the Indiana Credit Union League and the state’s credit unions met with Matz--as well as NCUA Vice Chair Rick Metsger and board member J. Mark McWatters--during the Hike the Hill trip. In addition to regulatory relief--particularly as it concerns small credit unions--the delegates discussed member-business lending regulatory relief, NCUA’s risk-based capital proposal, concerns about the Consumer Financial Protection Bureau (CFPB) and the appropriate role of the NCUA in the examination of state-chartered, federally insured credit unions.
"This trip was important for continued relationship building and legislative/regulatory advocacy," said league President John McKenzie.
The group included members of the league's board, Governmental Affairs Committee and senior management. It met with six of Indiana's representatives and Sen. Joe Donnelly (D). Discussions covered data breach legislation, regulatory relief, concerns about the CFPB, business-lending cap relief and protecting the credit union tax status.
"Between this trip and the CUNA (Governmental Affairs Conference) hill visits in early March, we have met face-to-face with nine of the 11 members of Indiana's congressional delegation plus the NCUA board," McKenzie noted.
The meeting with Donnelly coincided with the introduction of his bill to provide privately insured credit unions with access to the Federal Home Loan Bank system (S.B. 1367). The league has been working with him and his staff on the bill since February.
The visit with the senator also was within a few days of the Senate Banking Committee markup of regulatory relief legislation. Donnelly, a member of the committee, played a key role in supporting provisions favorable to credit unions, the league noted.