CCUL Headlines: Political

NC/SC advocates prepare for CUNA GAC with focus on member data security, regulatory burden

Wednesday, March 6, 2019   (0 Comments)
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More than 150 credit union advocates from 29 credit unions in North and South Carolina are preparing to travel to Washington, D.C. next week, joining thousands of their peers for the industry's most important advocacy event of the year—the 2019 CUNA Governmental Affairs Conference.

A Look Back: CUNA CEO Jim Nussle shares the collective impact of credit unions during Monday's opening general session of the 2018 CUNA Governmental Affairs Conference in Washington, DC.

The conference, set for March 10-14, is packed with meetings, educational opportunities, an exhibitor hall and keynote speakers including former Secretary of State John Kerry and Fox News political commentator and former White House Press Secretary Dana Perino. The highlight of the conference will be credit union advocates from across the country sharing the credit union difference with their members of Congress.

“Our Carolinas credit union advocates look forward to this event all year,” said Carolinas Credit Union League President and CEO Dan Schline. “This year, our message will focus on measures to protect credit union members – lawmakers’ constituents – by treating data security as a national security issue. Credit union members deserve a network that protects their financial transactions and privacy. We want to work with our lawmakers to address those weak links in the current networks and hold all entities that touch financial transactions accountable – including retailers.”

In addition to fighting for secure data and protecting consumer privacy, other talking points on the Hill include:

  • Encouraging “Right-Size” Regulations: one-size-fits-all regulations don’t work, and the annual cost of compliance to credit unions is $6.1 billion and rising. This burden severely hampers opportunity for credit unions and the viability of many, robbing consumers of access to safe and affordable financial services. Congress can help by encouraging changes at the Consumer Financial Protection Bureau (CFPB).
  • Modernizing Federal Credit Union Governance: The financial services landscape is quickly changing, and the Federal Credit Union Act has fallen behind. It’s time for modernization. By making some small changes in the Federal Credit Union Act, Congress can have significant positive impact for credit union members.
  • Preserving the Credit Union Tax-Exempt Status: Credit unions’ tax exemption is based upon our not-for-profit structure, as well as our mission to promote thrift and provide access to credit for provident purposes. Credit unions fulfill that mission every day, and in the recent shutdown helped tens of thousands of members by providing more than $46 million in low- or no-interest loans.

For more information on these talking points or other credit union advocacy initiatives in the Carolinas, contact CCUL Advocacy.

Highlights from the conference will be shared on the League website and in upcoming editions of The Advocate. Follow @TheCCUL on Twitter for live updates during the conference and join the national conversation using #CUNAGAC.


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