League Highlights Busy Week of Advocacy Work

It was another busy week on the advocacy front! We remain watchful following another week of uncertainty in Washington, with the House failing again today to elect a speaker. With a looming deadline to fund the federal government for the next fiscal year, we worry that a time crunch to pass the various appropriations measures will make it more difficult to derail any credit union-opposed measures that proponents seek to attach to those must-pass funding measures.  

• Your League today met with Rep. Don Beyer, continuing our outreach efforts on a host of issues, including a potential shutdown of the federal government and interchange legislation. We’ve been in constant contact for months with lawmakers and their offices, advocating for our issues.
• We joined with the national trades on an amicus brief in a critical federal court case involving a Virginia-based credit union.
• Your League’s Carrie Hunt and JT Blau attended Thursday’s NCUA Board Meeting.
• Following the Nomination Hearing for NCUA Board Nominee Tanya Otsuka, the League highlighted our key engagement issues with regard to the agency and its Board.
• Carrie Hunt offered insights on the future of state-chartered credit unions in the Commonwealth.
• Your League will engage with policymakers following news earlier this week that the Federal Reserve is preparing a proposal that would lower interchange fees merchants pay when consumers pay with debit cards.
• The Senate this week passed a resolution to repeal the CFPB's small-business data collection rule. The Congressional Review Act resolution is now on its way to the House. We remain concerned about how the rule might impact the cost of small business borrowing and how burdensome data collection required by the rule would affect smaller financial institutions.
• It’s been a long road toward a settlement of a data breach lawsuit your League signed on to years ago on behalf of member credit unions. Importantly, the suit is further evidence of why merchant accountability in data breaches matters and why interchange fees are vital to helping credit unions recoup a portion of fraud losses.