Credit Unions Make Waves in D.C.

Last week, more than 6,000 credit union advocates, including 300 from the Southeast, gathered in Washington, D.C. for the America’s Credit Unions Governmental Affairs Conference (GAC). In addition to meeting with all three Board Members at the National Credit Union Administration (NCUA) and being the only League in the country to do so, the League of Southeastern Credit Unions (LSCU) members met with NCUA ONES Director Scott Hunt, Deputy Administrator of the Small Business Administration (SBA) Dilawar Syed, and all 55 members of our congressional delegation.

On the Hill, credit unions pushed back against government overreach by the Consumer Financial Protection Bureau (CFPB) and Federal Reserve on overdraft and interchange fees, advocated for a safe and secure payment system free from further interchange regulation, and educated Congress on the need for more flexible business lending for credit unions. Credit unions made a tremendous impact – leaving D.C. with numerous new cosponsors on priority legislation, introducing a bill that would prevent the finalization of the Federal Reserve’s latest proposal to cap debit card interchange fees, and securing greater opposition to the Credit Card Competition Act.

LSCU appreciates everyone who made time to advocate on behalf of our industry and looks forward to the next opportunity to engage federal lawmakers. You can join us for our Fall Hike the Hill, which will be held September 23 – 26 in D.C. Stay tuned for registration information.