WASHINGTON—America’s Credit Unions Monday met with Deputy Treasury Secretary Michael Faulkner to discuss several issues important to credit unions.
“We had a very candid and I think fruitful conversation about a number of credit union issues,” said ACU President and CEO Jim Nussle. “We went in hoping to talk about CDFI issues—the ongoing hope for full funding.”
Nussle said Faulkner understands the power of credit unions to support small businesses, underserved communities, and rural areas and neighborhoods that are challenged.
“I feel very confident coming out of that meeting that Treasury will continue to be an ally in this this regard,” Nussle said.
The ACU team, which included Chief Advocacy Officer Carrie Hunt, Senior Regulatory Affairs Counsel James Aiken, and Senior Vice President of Government Affairs Greg Mesack, addressed NCUA’s independence.
“I think that Treasury certainly has given the indication (that NCUA will remain independent) in public statements, but now have the assurance of the deputy secretary it is not their intent (to merge NCUA under another regulator),” Nussle said. “They understand that any change would require statutory change. We had a good conversation and were able to reiterate our support for an independent regulator and a full contingency of board members.”