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NAFCU President and CEO Dan Berger, with several members of NAFCU's lobbying team, met with high-ranking members of Congress yesterday to thank them for their attention to credit union issues and concerns.

Berger and NAFCU's lobbyists met with House Financial Services Committee Chairman Jeb Hensarling, R-Texas; committee Ranking Member Maxine Waters, D-Calif.; and House Foreign Affairs Committee Chairman and House Financial Services member Ed Royce, R-Calif.

(Top) NAFCU's Berger with Ranking Member Maxine Waters. (Bottom) Berger with Chairman Ed Royce. (Joshua Roberts photos)

Under Hensarling's leadership, the House Financial Services Committee has reported out several regulatory relief bills, including the NAFCU-backed H.R. 2769, which would require NCUA to "stop and study" its risk-based capital rule. During his remarks on the bill at markup in late September, Hensarling said NCUA's RBC rule is a "solution in search of a problem."

The House Financial Services Committee has recently also reported out NAFCU-supported H.R. 1266, which would replace the CFPB director post with a bipartisan commission; and H.R. 957, which would transfer authority to appoint a CFPB inspector general from the Federal Reserve to the president.

Royce is the author of H.R. 1188, the "Credit Union Small Business Jobs Creation Act," which would lift the arbitrary MBL cap from 12.25 percent to 27.5 percent of total assets. Speaking at NAFCU's Congressional Caucus this past September, Royce said this bill would free up "billions of capital for small business without costing taxpayers a dime."