WASHINGTON–With CUNA’s Governmental Affairs Conference now approximately two weeks away, the trade group said it will be seeking a middle ground in its messaging.
Despite the GOP majority in Congress and a Republican in the White House, the divide in Congress and in politics on a broader basis remains clear. That will leave credit unions as much walking a tightrope as hiking the hill when they lobby their representatives as part of GAC, as Republicans have called for the dismantling of the CFPB and other consumer protections, even though credit unions support some of the measures that have been put in place both to protect consumers and rein in Wall Street.
“Our GAC message will be that the current regulatory structure is rigged in favor of the large banks,” said Ryan Donovan, CUNA’s chief advocacy officer. “There is a need for common sense regulation that focuses on Main Street and not Wall Street. This puts us squarely in the middle of politicians on both sides of the spectrum…We believe there is a lot of middle ground here for regulatory reform. There is a lot to talk to Congress about.”
Separately, in Congress this week most of the attention will be on hearings around the nominations of the Trump Administration, including Treasury Secretary nominee Steven Mnuchin and Linda McMahon, who has been nominated to lead the Small Business Administration. Federal Reserve Chairman Janet Yellin will also testify to both sides of Congress.