CEO Fred Becker, chief lobbyists ask Obama aide to support raising MBL cap, help ensure preservation of tax-exempt status.
Wednesday’s House Ways and Means Committee hearing wasn’t supposed to challenge the tax exempt status of credit unions. However, NAFCU isn’t taking any chances.
Regulatory burden, National Flood insurance Program on the agenda.
In a blunt document, the National Association of Federal Credit Unions has come out with a big no in regard to the recent NCUA Advanced Notice of Proposed Rulemaking (ANPR) designed to force credit unions to get in place approved liquidity.
EVP Berger tells lawmakers that exam consistency "is a key component to providing results accurately reflecting safety and soundness."
At press time, the fate of the credit union tax exemption was still up in the air.
Now comes the hard part. As tumultuous as the House subcommittee hearing on raising the cap on member business lending was, the really difficult battle will take place in the months ahead.
Sen. Olympia Snowe (R-Wash.) says Small Business Lending Fund "not an effective use of taxpayers' money."
CUNA's Cheney, NAFCU's Berger and Thaler, and bank industry counterparts all on list.
Some industry organizations which fought the passage of the Durbin amendment have moved quickly to applaud the prospect of its repeal.