WASHINGTON—NAFCU met with Federal Reserve Board Governor Michelle Bowman to share insights and trends credit unions have seen throughout 2022.
In attendance were the NAFCU board, President and CEO Dan Berger, Senior Vice President of Government Affairs Greg Mesack, Chief Economist and Vice President of Research Curt Long, Vice President of Legislative Affairs Brad Thaler, Vice President of Communications Meghan Burris Small, and Vice President of Regulatory Affairs Ann Petros.
According to NAFCU, during the meeting:
- Treasurer and Director-at-Large Karen Harbin, president and CEO of Commonwealth Credit Union in Frankfurt, Ky., discussed credit union industry conditions.
- NAFCU Board Chair Gary Grinnell, president and CEO of Corning FCU in Corning, N.Y., shared an update on the credit union industry's fight against the Credit Card Competition Act, which NAFCU said “could put regulatory and operational burden on credit unions”
- NAFCU Vice Chair Brian Schools, president and CEO of Chartway FCU in Virginia Beach, Va., offered the latest on FedNow.
- James Kenyon, president and CEO of Whitefish Credit Union in Whitefish, Mont., discussed NAFCU’s efforts advocating against the development of a central bank digital currency (CBDC), arguing the costs outweigh the “benefits and that credit unions represent a superior and safer alternative for innovative financial inclusion goals.”
Also In Attendance
Also in attendance were NAFCU Lonnie Nicholson, president and CEO of EECU in Fort Worth, Texas; Board Members Melanie Kennedy, president and CEO of Southwest Financial FCU in Dallas; Frank Mancini, president and CEO of Connex Credit Union in North Haven, Conn.; Karen Rosales, president and CEO of Arlington Community FCU in Arlington Va., and Eli Vazquez, president and CEO of Bank-Fund Staff FCU in Washington.