Congress should act to help communities before end of year

The 117^th Congress can take several actions in its final weeks to improve consumers’ financial well-being, CUNA Deputy Chief Advocacy Officer Jason Stverak wrote to all members of Congress Wednesday.

“Credit unions support several common-sense, bipartisan priorities that would benefit communities still reeling from the pandemic and its economic effects,” Stverak wrote.

Credit union priorities are:

• Opposing the Credit Card Competition Act (H.R. 8874/S. 4764), which will hurt consumers and benefit big box retailers by reducing the number of credit card issuers while removing a consumer’s choice of preferred card network.
• Opposing the Improving Cybersecurity of Credit Unions Act (S. 4968), which would give NCUA supervisory authority over third-party vendors.

 

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