Newsroom

August 26, 2016

Rep. Guinta, champion of extending CUs' exam cycles, at Caucus

Rep. Frank Guinta, R-N.H., author of NAFCU-backed legislation that would establish an extended exam cycle for well-run credit unions, is set to speak during NAFCU's Congressional Caucus, Sept. 18-21, in Washington.

Guinta, a member of the House Financial Services and Budget Committees, also spearheaded a letter sent to the NCUA in February from a bipartisan group of 30 House members urging a return to an extended exam cycle for healthy credit unions. In June, he introduced the "Credit Union Examination Reform Act of 2016" (H. R. 5419), which would establish an exam cycle of at least 18 months for well-run credit unions having assets of $1 billion or less.

Other recent additions to the Caucus slate include Rep. Terri Sewell, D-Ala., a member of the House Financial Services Committee and Permanent Select Committee on Intelligence, and Brian Peretti, the acting director of the Treasury's Office of Critical Infrastructure Protection and Compliance Policy.

Also scheduled are:

  • former Republican presidential candidate and Texas Sen. Ted Cruz;
  • Sen. Mike Rounds, R-S.D., the author of NAFCU-sought legislation to require that rules be tailored to financial institutions' risk profiles;
  • House Financial Services Committee Ranking Member Maxine Waters, D-Calif.;
  • Sen. Ben Sasse, R-Neb., who led a NAFCU-backed letter from 70 senators urging CFPB to make better use of its exemption authority; and
  • House Financial Services Subcommittee Chairman Randy Neugebauer, R-Texas, who is the lead on the NAFCU-supported "Data Security Act" (H.R. 2205) and the chief sponsor of a NAFCU-backed bill that would repeal the Durbin amendment (H.R. 5465).

Congressional Caucus is NAFCU's credit union lobbying event of the year; register now. For updates, follow #NAFCUCaucus on Twitter.