September 06, 2017

FinCEN's Ott, Rep. Sherman, Mastercard's Foote join Caucus speaker slate

NAFCU's Congressional Caucus begins next week, and three new speakers have recently joined the schedule: the Financial Crimes Enforcement Network's (FinCEN) Tom Ott, House Financial Services Committee member Brad Sherman, D-Calif., and Mastercard's Tucker Foote.

Ott, associate director for enforcement at FinCEN, oversees the agency's Bank Secrecy Act (BSA) compliance and enforcement program.

NAFCU President and CEO Dan Berger and other senior staff met with FinCEN Acting Director Jamal El-Hindi earlier this week to discuss credit unions' priorities and concerns. The association has previously raised concerns about the regulatory burden presented by FinCEN's BSA rules, including the collection of suspicious activity reports.

Sherman, Foote
(Left) Rep. Brad Sherman, D-Calif, and Mastercard's Tucker Foote.

Sherman is the coauthor of the NAFCU-backed Capital Access for Small Businesses and Jobs Act (H.R. 1244). This bill would give credit unions access to supplemental capital that preserves mutuality – an element of comprehensive capital reform for credit unions sought by NAFCU.

Foote, senior vice president and head of government affairs North America, leads the strategy creation and executive of the company's political and legislative engagements with policymakers throughout North America. He previously served as staff on the House Financial Services Committee before joining Mastercard in 2005.

Congressional Caucus is NAFCU's credit union lobbying event of the year. Speakers will address the most important legislative and regulatory issues facing the credit union industry today.

Ahead of the event, NAFCU is encouraging participation in a Thunderclap campaign that will coordinate a message that supports credit unions and calls on Congress to protect them. The message, shared via Twitter, Facebook and Tumblr, will be deployed on Sept. 12. Credit unions, their staff and members can sign up here.

Congressional Caucus registration is open to members and nonmembers; follow the hashtag #NAFCUCaucus on Twitter for the latest information.