WASHINGTON–Now operating as a single trade association representing credit unions on Capitol Hill, representatives of America’s Credit Union said they are excited about the new—a unified voice offering “uninterrupted advocacy”—and still concerned over the old—concerns over language opposed by CUs being slipped into legislation.
Jason Stverak, formerly with CUNA, said America’s Credit Unions has a “incredibly ambitious and positive agenda moving forward.”
Greg Mesack, formerly with NAFCU, said the new trade group will once again be watching how appropriations bills are being crafted, with Congress having just agreed on one enormous compromise spending bill.
Other Bills in Queue
During the first call with the media since America’s Credit Unions became official on Jan. 1, Mesack noted there are additional appropriations bills also in the queue that will need to be passed and any of those could include either entire bills or language credit unions have been lobbying against, such as the Credit Card Competition Act, or interchange-related language from that bill.
Mesack said previous efforts by CUNA and NAFCU, along with other groups, to get cleaner bills passed in the House and Senate has made it more difficult to attach what would be to financial services providers “poison pills” to other legislation.
Regulatory Issues
On the regulatory front, Mesack said America’s Credit Unions will be sending several comment letters this week as the newly combined organization, including on NCUA’s proposed rules related to the Fair Hiring Act and a CFPB proposal to regulate non-bank financial services providers.
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