|| A special, two-page issue of NAFCU's UPDATE
gives a full round-up of the association's top
priorities for 2013; download now.
Jan. 2, 2013 – NAFCU is greeting the new year and all its challenges with a set of top legislative and regulatory priorities aimed at further enhancing credit unions’ ability to thrive and meet the needs of their 94 million member-owners.
NAFCU’s board of directors considered and approved several top priorities for the association in the coming year. Preserving credit unions’ federal income tax exemption, which benefits not only credit union members but all Americans, tops that list.
The association will also be working to ensure credit unions’ continued access to the secondary mortgage market, improvements in federal data security requirements for merchants, no price caps on credit card interchange, preservation and enhancement of the federal charter and more.
“We are moving the bar on regulation, but credit unions are still the most heavily regulated of federally insured depository institutions,” said NAFCU President and CEO Fred Becker. “NAFCU will be working harder than ever in 2013 to win additional relief that allows credit unions to do more of what their consumer-members want – provide the services and products they need, at only a reasonable cost, to ensure their and their families’ financial success.”
The association made some strides last year. The enactment of legislation sought by NAFCU to remove a duplicative and costly ATM placard requirement was an important success. The CFPB’s delay in the effective date of its remittance rule and NCUA’s issuance of a legal opinion on video teller machines, making it easier for multiple-common-bond credit unions to expand their memberships, were other key wins. But more work remains.
The association’s 2013 top priorities are listed in full and detailed in a special Jan. 2 NAFCU UPDATE; download it now.