This week: NAFCU, CUs maintain advocacy leading up to midterms

The House and Senate remain out of session this week as they prepare for the Nov. 6 midterm elections. NAFCU’s award-winning advocacy team remains active in Washington, and encourages credit unions to reach out to their representatives at home on top industry issues.

On Capitol Hill, NAFCU is currently defending the credit union industry against efforts to wrap it into the Community Reinvestment Act, and is instead asking that credit unions be granted the ability to serve underserved areas. The association is also pushing for the withdrawal of a proposed rulemaking that would loosen Volcker rule requirements on big banks.

In addition, following NCUA action last week to delay its risk-based capital rule by one year, NAFCU Vice President of Legislative Affairs Brad Thaler sent a letter to leaders of the Senate Banking and House Financial Services Committees pushing for additional relief. Thaler urged Congress to act on the bipartisan bill the Common Sense Credit Union Capital Relief Act of 2018 (H.R. 5288), which would ensure a two-year delay of the rule. At NAFCU’s leading, this legislation has passed the House three times this year.


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