September 28, 2018

NAFCU, White House economist to talk housing finance reform, reg relief

pillarsNAFCU President and CEO Dan Berger and other senior staff members will meet today with Mark Calabria, chief economist for Vice President Mike Pence. The meeting will be focused on housing finance reform and credit unions' regulatory burden.

NAFCU has previously shared its core principles for housing financial reform that should be included in any final reform measures with lawmakers and officials in the Trump administration. Throughout last year and this year, NAFCU has engaged with key lawmakers and agency officials – including Treasury Secretary Steven Mnuchin and Counselor Craig Phillips, Federal Housing Finance Agency Director Mel Watt, and Department of Housing and Urban Development Secretary Ben Carson – to achieve credit unions' housing finance priorities.

In June, Berger sent a letter to Mnuchin in response to President Donald Trump's recent proposal, "Reform the Federal Role in Mortgage Financing," which was outlined in the administration's broader agency reorganization plan.

Trump has also pursued credit union-supported regulatory relief efforts during his time in office, including directing federal agencies and the Treasury Department to identify and alleviate regulations that are burdensome to the economy and financial institutions. In addition, after months of NAFCU and credit union advocacy, Trump in May signed into law the most comprehensive regulatory relief package since the Dodd-Frank Act was enacted.

NAFCU also met with Calabria in March last year for a similar discussion.

Berger will be joined at today's meeting with Calabria by NAFCU Executive Vice President of Government Affairs Carrie Hunt, Vice President of Legislative Affairs Brad Thaler, Chief Economist and Vice President of Research Curt Long and Senior Regulatory Affairs Counsel Ann Kossachev.

Kossachev earlier this month attended a meeting at the White House to discuss housing finance reform priorities.