October 25, 2022

CUs: Use October to voice concern on NCUA vendor authority and support for CUBMA

NAFCUThe best messenger with policymakers in Washington is the credit union who is out there every day trying to meet the needs of their members. The association is urging credit unions to use NAFCU’s Grassroots Actions Center to speak out against efforts to expand NCUA Third Party Vendor Authority by sending a message to their lawmakers and asking them to oppose the harmful legislation which is being considered as part of the House-Senate conference on the National Defense Authorization Act (NDAA).

Lawmakers recently released the text of the bipartisan agreement on a Senate substitute amendment for the NDAA which could be considered by the Senate when Congress returns in November. An amendment to grant the NCUA with third party vendor authority was not included in the Senate substitute.  The amendment was included in the House-passed version of the NDAA, which must be reconciled with the Senate. We need you to help keep up this momentum and contact your lawmakers to urge them to keep it out of a final version of the NDAA. 

In addition, NAFCU is encouraging credit unions to also use NAFCU’s Grassroots Actions Center to express support for the Credit Union Board Modernization Act in the Senate. The House passed a package of bills en bloc in September that included the NAFCU-backed Credit Union Board Modernization Act by a 296-127 vote. The bill modifies existing language in the Federal Credit Union Act related to the requirement that credit union boards meet once a month.

Explore the Grassroots Action Center and stay tuned to NAFCU Today for the latest from Washington.