February 06, 2020

Berger, Waters talk CU priorities, committee's efforts

Waters at Caucus
House Financial Services Committee Chairwoman Maxine Waters speaks at NAFCU's 2019 Congressional Caucus.

Continuing NAFCU's credit union priorities push for the new year, association President and CEO Dan Berger and Vice President of Legislative Affairs Brad Thaler were on Capitol Hill Wednesday to meet with credit union champion Rep. Maxine Waters, D-Calif., and her senior staff. As chair of the House Financial Services Committee, Waters plays an instrumental role in the development of policy that impacts credit unions and their ability to serve members.

Industry growth remains NAFCU's No. 1 priority, and its 2020 legislative and regulatory priorities are all developed with credit union input to ensure the industry's continued success. The association has met with several lawmakers in recent weeks, and also sent the priorities to key officials, including President Donald Trump.

NAFCU has a strong working relationship with Waters. The association's 2019 September/October edition of The NAFCU Journal featured a Q&A with Waters, providing insights into her approach as a lawmaker and to ensure a fair playing field for credit unions. The magazine was published ahead of Waters' appearance at NAFCU's Congressional Caucus, at which she pledged to oppose efforts to remove credit unions' tax-exempt status and support efforts to allow credit unions to lend to more small businesses.

In addition to these issues, several credit union priorities align with Waters' and the committee's efforts:

NAFCU has also worked with the committee to obtain relief under the current expected credit loss standard, enact national data security and data privacy standards, and more. The association will remain engaged with Waters and the committee as it reviews important industry issues, including two today on the CFPB and astroturfing.