ARLINGTON, Va.—NAFCU President and CEO Dan Berger hosted Treasury's Craig Phillips, counselor to Treasury Secretary Steven Mnuchin, for a meeting at the association’s headquarters last week to discuss regulatory relief measures included in Treasury's recent report addressing possible relief for credit unions and banks.
Phillips was accompanied by numerous staff from Treasury during the meeting. Also attending for NAFCU were Executive Vice President of Government Affairs and General Counsel Carrie Hunt, Vice President of Legislative Affairs Brad Thaler, Director of Regulatory Affairs Alexander Monterrubio and Chief Economist and Vice President of Research Curt Long.
The Treasury report, released in June, cites NAFCU's Annual Report on Credit Unions multiple times. Included, among other items, are recommendations for a review of credit union capital requirements and the "current expected credit loss" accounting standard.
During the meeting discussions addressed Treasury's continued focus on financial institutions relief. NAFCU representatives addressed the credit union industry's top concerns.