NAFCU advocacy hits ground running in 2020
NAFCU President and CEO Dan Berger and the association's award-winning advocacy team have started 2020 strong, taking to Capitol Hill and reaching out to key administration officials – including President Donald Trump – and regulators to share issues credit unions would like addressed this year.
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. Of note, credit unions continue to see membership growth – now providing safe, affordable financial services to nearly 120 million Americans – as well as loan and asset growth.
Last week, Berger and NAFCU lobbyists met with key members of the Senate Banking Committee, including Chairman Mike Crapo, R-Idaho, Ranking Member Sherrod Brown, D-Ohio, and Sens. Jon Tester, D-Mont., Doug Jones, D-Ala., and Chris Van Hollen, D-Md., to discuss housing finance reform, efforts to create a national data privacy standard, the Senate's approach to BSA reforms following House-passage of NAFCU supported bills, and legislation to provide the NCUA with greater flexibility in setting loan maturity limits.
These meetings came on the heels of another day on Capitol Hill, during which NAFCU's unmatched relationships in Congress were on full display. NAFCU maintains these relationships to ensure credit unions' voices are heard at the highest levels of government.
In addition to the Capitol Hill meetings, members of NAFCU's Government Affairs team met with NCUA Office of Examinations and Supervision Director Scott Hunt to discuss the agency's exam modernization efforts and 2020 supervisory priorities. The newest Compliance Monitor and a recent NAFCU Compliance Blog post provide credit unions with resources to be successful during exams this year.
NAFCU launched its 2020 priorities as Congress returned to Washington for the second session of the 116th Congress. Berger sent the priorities to the House and Senate in a letter to Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, D-N.Y., House Speaker Nancy Pelosi, D-Calif., and House Minority Leader Kevin McCarthy, R-Calif.
Berger also shared them with key officials, including:
- President Trump;
- Treasury Secretary Steven Mnuchin;
- Federal Reserve Chairman Jay Powell;
- U.S. National Economic Council Director Larry Kudlow;
- Department of Housing and Urban Development Secretary Ben Carson;
- Federal Housing Finance Agency Director Dr. Mark Calabria;
- Federal Communications Chairman Ajit Pai;
- CFPB Director Kathy Kraninger; and
- NCUA Board Chairman Rodney Hood and Board Members Todd Harper and J. Mark McWatters.
NAFCU will maintain its reputation as the credit union industry's Washington Watchdog throughout 2020 to advocate on the issues that will impact institutions' success, in addition to providing members with exceptional member service and access to the resources and connections needed to keep growing.
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Add to Calendar 2023-11-28 09:00:00 2023-11-28 09:00:00 Growing Creatively & Innovatively in 2024 Listen On: Key Takeaways: [0:58] What can credit unions do to best prepare themselves for 2024? [2:12] Although he sees a glimmer of hope, Jack points out that the liquidity crisis and slow prepayment speeds hamper rapid recovery. [5:22] We discuss how credit unions seek low loan growth through member-centric strategies such as second mortgages and home improvement lending. [7:34] Credit unions are leveraging advancing technology for member-focused engagement. [9:31] How will technology continue to evolve and affect credit unions? [11:43] What role does AI play in innovative growth? [14:14] Credit unions adopt technology for efficiency, enabling staff to focus on personalized member interactions, especially with younger generations. [17:14] Closing thoughts, emphasizing competition against banks and fintech for younger generations. Web NAFCU firstname.lastname@example.org America/New_York public
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