CUNA victories in 2018 set up CU momentum going forward

by CU Magazine

CUNA came into 2018 with a bold, new advocacy agenda and saw historic victories this year as a result of unparalleled engagement and 360-degree advocacy. Execution of this agenda in the legislative, regulatory and judicial arenas helped ensured credit unions and their members are well-positioned going into 2019, said CUNA Chief Advocacy Officer Ryan Donovan.

“The CUNA/league system delivered historic victories for the credit union system in 2018, hard-fought wins that helped us meet the goal we set at the beginning of the year: to revolutionize the operating environment for credit unions,” Donovan said. “It’s because of our 360-degree advocacy, exploring opportunities from every angle, that our 2018 saw us remove regulatory barriers, expand credit union powers and protect the credit union tax status. We’re excited with the momentum we’ve got, and with continued support from our leagues, credit unions and members, we’ve got high hoped headed into 2019.”

Victories CUNA and state credit union leagues helped achieve in 2018 include:

Removing Regulatory Barriers

  • Congress enacted and President Donald Trump signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), which included several credit union priorities, including important Dodd-Frank amendments, a charter enhancement provision to allow more member business lending, a provision that requires NCUA to hold an annual budget hearing and a provision that protects credit union officials that report suspected elder financial abuse;

 

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