Newsroom

February 14, 2017

NAFCU urges CUs to engage with lawmakers

Many NAFCU members have engaged with their lawmakers recently on the need to repeal the Dodd-Frank Act's Durbin amendment, via the association's Grassroots Action Center, but NAFCU Director of Political Affairs Dan O'Brien is urging continued outreach on this and other key issues.

Next week, when lawmakers are working in their home states and districts, will be an "ideal time to engage in grassroots advocacy," O'Brien said in a message to credit unions yesterday.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, is expected to include a Durbin amendment repeal provision in the 2017 "Financial CHOICE Act," which is expected to be introduced at any time.

Along with Durbin amendment repeal, credit unions are encouraged to talk to their lawmakers about:

  • the importance of the credit union tax exemption (see NAFCU's independent study showing the positive impact the exemption has on the economy);
  • the need for credit union regulatory relief; and
  • the need for national data security standards for merchants that would hold them to the same standards credit unions follow under the Gramm-Leach-Bliley Act.

Through NAFCU's Grassroots Action Center, credit unions can gather contact information for their lawmakers to set up local meetings, review background information on the important issues and find the tools they need to take action. Credit unions are encouraged to invite their lawmakers to their financial institutions, write them asking for support on key legislative efforts and engage with them on social media.

Credit unions with questions or that need assistance should reach out to O'Brien at dobrien@nafcu.org or (703) 842-2237.