Credit Union Issues We’re Bringing to the Hill
Personally make an impact in developing key credit union legislation and regulation.
Harmful regulatory burdens continue to squeeze credit unions’ ability to offer products and services for over 111 million members. You’re the best possible advocate. Share your story on Capitol Hill. Help Congress understand where credit unions stand on these key issues.
With a new administration and Congress, tax reform continues to be a top priority. NAFCU sent Congress an independent study showing the positive impact the credit union tax exemption has on consumers, businesses, and the overall economy. Both the powerful Senate Finance Committee and House Ways and Means Committee are in talks with the Administration on various reforms. Use the data in NAFCU’s study—which shows how vital the tax exemption is to credit unions, their mission, and the economy—to strengthen your argument when talking to members of Congress. Learn more about the credit union tax exemption.
NAFCU stands with credit unions in the fight against unfair Americans with Disabilities Act (ADA) lawsuits. Americans should be free from discrimination, but credit unions should not be the victims of ambiguities in federal law. The ADA and the Department of Justice's (DOJ) regulations are unclear on website accessibility standards, and DOJ recently rescinded two prior notices on this topic. Help Congress realize how costly lawsuits against well-intentioned credit unions are exploiting an area of unsettled law to snatch real dollars away from credit union member-owners. Learn more about the latest developments in ADA website litigation.
NAFCU continues to encourage Congress to focus on enacting real relief for overburdened credit unions. Between the CFPB, NCUA and other agencies, the cumulative regulatory burden our industry faces is absolutely staggering. Now more than ever, credit unions need lawmakers to step in and address duplicative, over-burdensome regulations. Your credit union’s individual story paints an invaluable picture for lawmakers. It helps them understand how regulations impact the ability to serve over 111 million Americans who rely on us. Learn more about regulatory relief for credit unions.
Join us in pressing lawmakers to create a strong federal data safekeeping standard for retailers. NAFCU was the first financial services trade association to weigh in on data security on Capitol Hill in the wake of the Target data security breach, and we haven’t stopped since. Retailers must do their part to prevent breaches, and liability must be on the entity where a breach originates. A strong national data security standard will help prevent numerous data breaches. Learn more about data security.
Debate continues in Congress about the future of housing finance reform. The secondary mortgage market is critical for credit unions in managing interest rate risk and facilitating the flow of mortgage credit to their members. Credit unions are an important part of the mortgage market and shouldn’t, under any circumstances, be shut out by larger players. Given the complex nature of the housing finance market, lawmakers need your immense expertise and insight as a lender. Learn more about housing finance reform.