MCALLEN, Texas—A roundtable oof financial services execs called by a member of Texas’ congressional delegation included one credit union leader.
Rep. Monica De La Cruz (R-TX) organized the meeting to discuss financial institutions and related banking issues, which was held while she was in her district during the annual congressional recess in August.
De La Cruz is the only freshman lawmaker on the House Financial Services Committee and ran several small businesses before being elected to Congress in 2022, according to the Cornerstone league.
Salvador Guerrero, AVP of corporate communications and public relations at Live Oak, Texas-based Randolph-Brooks FCU, was among those in attendance at the meeting, which was held in McAllen.
‘Pick Our Brains’
“She called this roundtable of bankers because she wanted to pick our brains,” said Guerrero, according to the league. “We talked about [the Credit Card Competition Act], digital security, fraud, digital currency, small business lending, and concerns about CFPB regulations that are hindering our business model. She took a lot of notes and seemed to really want to understand the issues.”
The league said Guerrero explained why credit unions are opposed to the Credit Card Competition Act, and shared information about the credit union movement and the various differentiators from community banks.
‘Shared Issues’
“Banks and credit unions share a lot of the same issues, including our position on the CCCA,” Guerrero said, according to the league. “De La Cruz supports our position, too. She recalled that when the bill came to the House earlier in the year, it didn’t pass. But now that she has a better understanding of the problems with the legislation, she will be watching out for it if it’s brought to the floor again. She’s aware it’s a hot topic and not going away.”
Are You Being Gouged for Bank-Like Subscription Fees for Old News? Here’s a CU-Like Way to Fix That
The biggest, best and freshest news reporting in credit unions remains free! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more. So stop paying those bank-fee-like subscription prices from other so-called “news”” publications!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?