League Shares CUs' Input on Banking Sector Challenges With Senior U.S. Treasury Official

League President/CEO Carrie Hunt today joined her fellow League presidents and CUNA staff on a call with Graham Steele, Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury. Asst. Secy Steele and the Biden Administration are gathering feedback from the Leagues about deposit outflows/inflows at member credit unions, as well as what we’ve heard from credit unions related to questions and concerns about the health of the banking sector.

To continue our dialog and engagement with Treasury, please share with us your feedback, thoughts and concerns related to current banking sector concerns. Reach out to us or drop us an email (pr@vacul.org).

Carrie was able to share with Asst. Secy Steele feedback we received during a virtual roundtable event we hosted Wednesday, which drew 55 credit union participants.

The call with Treasury also covered the possibility of adjustments to deposit insurance coverage (should Congress choose to pursue an adjustment), private share insurance, and the possible impact of the Credit Suisse acquisition on U.S. markets.

Your League continues to engage with federal lawmakers, regulators and administration officials on the developing situation related to the banking sector.