CFA Opposes "Competitive Disadvantages" for CUs

WASHINGTON-The Consumer Federation of America recently adopted a resolution supporting credit unions in their competition with for-profit financial institutions. “In order to provide their members with a wide range of financial services, CFA feels that credit unions should not be regulated in a manner that creates a competitive disadvantage with for-profit financial institutions,” the resolution states. NAFCU Director of Political Affairs Murray Chanow, who represented the trade group at the March 25 CFA meeting in Washington, D.C., said the purpose of the resolution was to show Capitol Hill that credit unions and CFA were on the same page in this regard. Representatives from CUNA, CUNA Mutual, Navy Federal Credit Union, and Orange County Teachers Federal Credit Union also attended and supported the resolution.