CUNA urges Congress to change housing finance, data security laws

Congressional leadership is needed to ensure action is taken on housing finance reform and merchant data breaches, the Credit Union National Association said in Wednesday separate letters to House and Senate leaders.

The letters were sent to House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas), Ranking Committee Member Maxine Waters (D-Calif.), Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Committee Member Michael Crapo (R-Idaho).

CUNA President/CEO Bill Cheney in the letter said CUNA is pleased by the progress that was made on housing issues in 2013. “With the economy in a fragile recovery and the housing market rebounding, now is the time for Congress to address changes to the housing finance system,” Cheney added.

The CUNA CEO thanked the legislators for allowing CUNA to present credit union views on the issue, and said “it is critical that credit unions have equitable access to a functioning, well-regulated secondary market” once the reform process is complete.

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