Since its founding in 1967, NAFCU has been a highly effective advocate for federal credit unions. Over the years, the need for federal advocacy has grown exponentially.
This has been particularly true since the July 2010 implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the establishment of the CFPB. We knew this behemoth of a law would exact an extraordinary toll on credit unions. In fact, when Congress proposed creating the CFPB, NAFCU was the only financial services trade association to oppose placing credit unions under the bureau's direct regulatory authority.
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