Newsroom

February 10, 2016

Berger talks CU reg relief on the Hill

NAFCU President and CEO Dan Berger discussed credit union regulatory relief and other top advocacy goals for the association with Senate Majority Leader Mitch McConnell, R-Ky., and other lawmakers Wednesday.

Berger and NAFCU Vice President of Legislative Affairs Brad Thaler met with McConnell, Sen. Ben Sasse, R-Neb. (a member of the Senate Banking Committee), House Small Business Committee Chairman Steve Chabot, R-Ohio, and House Appropriations Subcommittee on Financial Services Chairman Ander Crenshaw, R-Fla.

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Dan Berger with Sen. Ben Sasse.

During the meetings, Berger emphasized the need for credit union regulatory relief and the difficulty credit unions are having serving their members under the increasing regulatory burden. He also touted NAFCU's continued support for a national data security standard that would hold retailers to standards similar to those credit unions already follow under the Gramm-Leach-Bliley Act.

Berger also thanked the lawmakers for their previous support of regulatory relief efforts: McConnell supported creating an appeals process for the assignment of "rural" designations under CFPB's qualified mortgage rule; Chabot has supported NAFCU-backed legislation that would raise the credit union member business lending cap; and Crenshaw has lent support for changing CFPB's leadership structure from a single director to a bipartisan five-member board.

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Dan Berger with Chairman Ander Crenshaw. (NAFCU photos)

NAFCU continues to meet with top lawmakers and regulators to push credit union advocacy goals and further the industry's message.