WASHINGTON--Bringing credit union priorities directly to the White House, America’s Credit Unions President/CEO Scott Simpson and Head of Regulatory Advocacy James Akin met with White House Office of Public Liaison Director Jim Goyer Friday.
Goyer also serves as deputy assistant to the president and is responsible for coordinating outreach between the administration and external groups.
Simpson and Akin reiterated America’s Credit Unions’ strong opposition to allowing yields and rewards on stablecoins, a question currently unaddressed in the statutory language. America’s Credit Unions previously engaged Congress on this issue, encouraging a ban on such inducements in future digital assets legislation.
The group also discussed the importance of immediately disbursing FY25 Community Development Financial Institutions (CDFI) Fund awards, and the need to award the appropriated FY26 funds in a timely manner.
As the administration examines additional deregulatory actions, banking regulators have quickly acted to provide banks with significant regulatory relief. Simpson and Akin noted that expediting the nomination and confirmation of Chairman Kyle Hauptman’s replacement (who has been nominated to a Securities and Exchange Commission position) and two other board members is needed to provide similar regulatory relief as banks. They urged the Administration to take action to ensure NCUA has its full, three-person board in place, providing the needed governance structure to implement regulatory relief parity for credit unions.