March 1, 2013 – NAFCU garnered plenty of media attention this week as its communications team continued to spread the message about its most pressing priorities, with coverage in the online edition of TIME magazine, POLITICO, HousingWire.com and the credit union trade press.
A Feb. 27 TIME.com article, “Should Credit Unions Have to Pay Income Tax?” quotes NAFCU President and CEO Fred Becker defending the need for legislation that would expand credit unions’ member business lending authority. In the article, Becker says the legislation is needed to increase lending to small businesses and would help support the economic recovery.
The American Bankers Association’s recent attack against the credit union federal income tax exemption was the included in the Feb. 26 edition of POLITICO’s Morning Money report. The “Credit Unions Fight with ABA” section of the report noted that NAFCU emailed members immediately following the attack to set the record straight.
A Feb. 28 article in HousingWire.com, “NAFCU Fights Against Dodd-Frank Act,” highlights the association’s recommendations to the CFPB about improving the ability-to-repay rule and proposed amendments, as articulated in a Feb. 25 comment letter. Instead of adopting a “one-size-fits-all approach,” the rule should recognize that “each credit union forms itself to the market it serves in,” NAFCU urged.
Credit Union Times
Meanwhile, a Feb. 27 CU Times article, “Trades Beef Up Regulatory Services While Regulators Rack Up Rules,” notes that NAFCU “varies its delivery channels” to assist members and recently bolstered its regulatory compliance and regulatory affairs staff. The article quotes NAFCU Executive Vice President of Government Affairs Dan Berger, who notes that calls and emails from members have “increased 100-fold.” The article notes that NAFCU, to help members, uses articles, newsletters, blogs and a set of new CFPB mortgage regulation scope-and-applicability charts showing how the new regulations will apply to credit union mortgage operations.