CUNA sent its latest graphic combating banker falsehoods to Capitol Hill Wednesday, setting the record straight about large credit unions and the credit union tax status, following two previous communications aimed at providing the truth behind banker attacks.
Numerous credit union-friendly candidates saw victories in Tuesday’s primary and runoff elections in multiple states. Primaries took place in Colorado, Maryland, New York, Oklahoma, Utah, and runoffs took place in Mississippi and South Carolina.
Two credit unions facing frivolous lawsuits alleging ADA violations were thrown out this week. CUNA has deployed its 360-degree advocacy to find a solution to credit unions facing lawsuits due to uncertainty with how the ADA applies to websites.
CUNA continued its pushback against banker falsehoods Tuesday with a message to Congressional staffers showing that, despite banker claims to the contrary, credit unions generated $17.1 billion in federal, state and local taxes.
The House passed a bill Tuesday that contains a CUNA-backed provision to delay the implementation date of NCUA’s risk-based capital rule back to Jan. 1, 2021, from the currently scheduled Jan. 1, 2019 date.
CUNA urged the Senate Banking Committee to delay NCUA’s risk-based capital rule, and eliminate maturity limits on federal credit union loan in a letter sent for the committee’s hearing on enhancing consumer access to capital.
CUNA will be heavily engaged with a Senate Banking Committee hearing on ways to increase consumer access to capital, and will support bill to delay implementation of NCUA’s risk-based capital as it comes up for House consideration.
CUNA President/CEO Jim Nussle, Chief Advocacy Officer Ryan Donovan and Deputy Chief Advocacy Officer Elizabeth Eurgubian met with NCUA Chairman J. Mark McWatters Monday to discuss credit union issues, most notably regulatory relief.
Credit unions will support dozens of candidates in Tuesday’s elections, including primaries in Colorado, Maryland, New York, Oklahoma and Utah, and runoffs in Mississippi and South Carolina. Candidates are supported by CUNA, leagues and CULAC.