FOR IMMEDIATE RELEASE
NAFCU Statement In Response ICBA’s MBL Attack
(June 22, 2015) - National Association of Federal Credit Unions (NAFCU) Vice President of Legislative
Affairs Brad Thaler today sent a message to members of Congress to debunk the unsubstantiated
claims of the Independent Community Bankers of America (ICBA) regarding the
National Credit Union Administration's (NCUA) proposal to eliminate the member
business lending waiver process.
In his message to the Hill, Thaler wrote, "First and foremost, NAFCU
has long championed relief from the arbitrary and outdated member business
lending cap for credit unions. We strongly support legislation to provide
relief from the cap, such as the "Credit Union Residential Loan Parity
Act" (S. 1440/H.R. 1422), the "Credit Union Small Business Jobs
Creation Act" (H.R. 1188) and legislation to exempt loans made to our
nation's veterans from the cap (H.R. 1133)."
He stated that the recent banker attacks demonstrated their lack of
understanding of credit union member business lending. He noted NAFCU's
disagreement with their assertions.
Thaler emphasized, "It is important to note that despite the banker
claims, the proposal would still require credit unions to have a board approved
general and commercial lending policy. What the proposal would do is eliminate
the unnecessarily bureaucratic waiver process under which credit unions are
required to seek NCUA approval for basic and routine lending decisions - an
important element of relief for credit unions and small businesses.
"While NAFCU and our members believe that this proposal constitutes an
important step towards regulatory relief, it does not change or alter the
statutory cap on credit union member business lending. NAFCU continues to
believe that credit unions deserve relief from this outdated and arbitrary cap,
and urges additional action from Congress and NCUA in this regard."
The National Association of Federal Credit Unions is the only
national trade association that exclusively represents the interests of
federally chartered credit unions before the federal government and the
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