CUNA outlines credit union priorities ahead of hearings, shows support for fight against senior scams
WASHINGTON, DC (May 7, 2019) — Credit Union National Association sent setters for the record to House and Senate subcommittees to outline credit union priorities following today’s hearings on flood insurance, international development, minority homeownership and illegal robocalls.
House Committee on Rules
CUNA is urging the Committee to accept the “Manager’s Amendment” toe H.R. 2157 to extend the expiration of the authority of the National Flood Insurance Program from May 31 to September 30, 2019. Credit unions play an increasingly important role in the housing finance market and, as a result, have a vested interest in the ongoing stability of the National Flood Insurance Program (NFIP). Read the letter in full here.
Senate Committee on Foreign Relations
CUNA is seeking to increase the funding for the Cooperative Development Program (CDP) programs to $17 million. The CDP is a global initiative that focuses on building capacity of cooperative businesses and cooperative systems for self-reliance, local ownership, and sustainability. A main source of funding for the World Council of Credit Unions (WOCCU) has been the CDP of the Development Assistance account in the State-Foreign Operations and Related Programs Appropriations bill. CUNA is a member of WOCCU, which is the leading trade association and development organization for the international credit union movement. Read the letter in full here.
House Subcommittee on Housing, Community Development, and Insurance
CUNA is committed to ensuring that the housing finance market remains both accessible and affordable to minority borrowers. Credit unions continue to support policy proposals that recognize that barriers to mortgage credit affordability—such as the Federal Housing Administration’s decision to extend mortgage insurance premiums for the life of a loan without regard to the health of the Mutual Mortgage Insurance Fund—directly and disproportionately have a negative impact on access to mortgage credit for many minority borrowers. Read the letter in full here.
CUNA wrote to Senators Robert Casey and Jerry Moran in support of S. 149, the “Stop Senior Scams Act,” which will help seniors avoid financial exploitation and to encourage responsible decisions regarding financial management.
On Monday, CUNA also sent a letter to the leadership of the Senate Appropriations subcommittee for the record of its hearing on the FCC and Federal Trade Commission budget. The letter encourages the FCC to modernize its implementing regulations for the Telephone Consumer Protection Act (TCPA).
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visitYourMoneyFurther.com.