WASHINGTON, DC (March 28, 2017) — Good afternoon,
Below please find NAFCU Vice President of Legislative Affairs Brad Thaler’s letter to Senate Banking Committee, regarding tomorrow’s hearing, “Fostering Economic Growth: The Role of Financial Companies.”
If you would like more information on this matter or would like to speak about this with a NAFCU expert, please let me know.
Thank you.
Falen Taylor
Communications Coordinator
National Association of Federally-Insured Credit Unions
Phone: 703-842-2235
ftaylor@nafcu.org
March 27, 2017
The Honorable Michael Crapo The Honorable Sherrod Brown
Chairman Ranking Member
Committee on Banking, Housing, Committee on Banking, Housing,
& Urban Affairs & Urban Affairs
United States Senate United States Senate
Washington, DC 20510 Washington, DC 20510
RE: Tomorrow’s Hearing: “Fostering Economic Growth: The Role of Financial Companies”
Dear Chairman Crapo and Ranking Member Brown:
On behalf of the National Association of Federally-Insured Credit Unions (NAFCU), the only trade association exclusively representing the federal interests of our nation’s federally-insured credit unions, I write today in conjunction with tomorrow’s scheduled hearing examining the role of financial companies when it comes to fostering economic growth. We appreciate the committee’s focus on the importance of financial institutions, such as credit unions, and their potential to spur economic prosperity.
NAFCU has always believed that credit unions play an essential and vital role in the economic health of local economies. This was demonstrated during the recent financial crisis, when credit unions were able to continue to lend and help credit worthy consumers and small businesses, often when no one else would. Despite the fact that credit unions played no part in causing the financial crisis, they are still adversely affected by many of the regulations meant for riskier institutions. Unfortunately, every credit union dollar spent on regulatory compliance is a dollar that can’t be used to help consumers through member service, better rates or additional money to lend. This is why regulatory relief remains a top priority for our nation’s credit unions, and a key tool to help foster economic growth.
Thank you for holding this hearing. We look forward to participating in the committee’s call for ideas to help foster economic growth and stand ready to work with you in this regard. Should you have any questions or require any additional information please contact me or Allyson Browning, NAFCU’s Associate Director of Legislative Affairs, at 703-842-2836 or abrowning@nafcu.org.
Sincerely,
Brad Thaler
Vice President of Legislative Affairs
cc: Members of the Committee on Banking, Housing, and Urban Affairs
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
