ARLINGTON, Va.–Two weeks after CUNA went to some lengths to literally illustrate why it differs with NAFCU on one recently introduced piece of legislation, a spokesperson for NAFCU says the group maintains its position and that ultimately both groups are attempting to get to the same place.
As CUToday.info reported earlier, CUNA has said it supports Sen. Elizabeth Warren’s (D-MA) new American Housing Economic Mobility Act of 2019, while NAFCU said it has “concerns” and has withheld its support. Specifically, NAFCU said it is worried “about the new regulatory and examination burdens that would be placed on credit unions that add underserved areas.” In response, CUNA’s chief advocacy officer, Ryan Donovan, argued “regulatory burdens have actually been reduced, and CUNA even released a comparison chart between the 2019 version of the American Housing Economic Mobility Act and the version that was introduced in the prior Congress. The full CUNA comparison chart can be found here.
NAFCU’s EVP/General Counsel Carrie Hunt said the trade group remains opposed to any increased regulatory burden, a risk that is increased anytime any language is inserted in the Federal Credit Union Act or when very specific exam procedures are added.
“Ultimately, I think NAFCU and CUNA will end up in the same place” but with different perspectives on how to get there,” she said.