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NAFCU, trades meet with Treasury on financial inclusion
NAFCU Senior Vice President of Government Affairs Greg Mesack and Vice President of Regulatory Affairs Ann Petros, along with staff from other financial trade groups, met Wednesday with Treasury staff to discuss the development of a national strategy to increase financial inclusion, specifically at depository financial institutions.
NAFCU consistently works with its members to understand how they are working to increase financial inclusion within their communities. The association also continues to advocate for financial inclusion and highlights the role credit unions play in inclusion by providing safe, secure, and reliable financial services at an affordable price. In addition, NAFCU has expressed opposition to both the big box bailout bill and Sen. Josh Hawley’s, R-Mo., bill to implement an all-in annual percentage rate cap for credit cards at 18 percent. The association has warned lawmakers of the bills’ negative impact on access to credit, especially for borrowers who are most in need of affordable credit.
NAFCU will continue to engage the Treasury and reiterate the role credit unions play in financial inclusion.