He noted that at the September NCUA Board meeting the agency approved a final member access to books and records rule without the executive compensation portion that was in the proposal in favor of considering it as part of an overarching executive compensation matter. "That's exactly what they did and that's what we hope they'll do with this one," Becker said of the merger executive compensation proposed rule.

Another sticky issue was whether NAFCU's stance against overdraft disclosure legislation–popular among top Democratic Financial Services Committee leaders–will hurt credit unions in Congress. Becker stressed that NAFCU is working with the bill's sponsor Carolyn Maloney (D-N.Y.) and co-sponsor Committee Chairman Barney Frank (D-Mass.) to make the bill more acceptable for credit unions; Maloney was an original co-sponsor to the Credit Union Regulatory Improvements Act (H.R. 1537) and Frank is chairman of the committee that the bill has to go through.

Generally speaking he said, experience has demonstrated, "They expect to hear from us. They want to hear from us."

As a practical matter, reporting overdraft fees in an APR would push credit unions over the 18% usury limit in the Federal Credit Union Act–not to mention the APR could not even be calculated until after the fact and after non-compliance. Maloney has told the credit union trades that this was an unintended consequence of her bill and the problem is being worked on.

Additionally, NAFCU objected to the 90-day implementation period as too short and generally disagreed with subjecting overdraft protection to Truth in Lending Act requirements, which the bill would do. Becker explained, "They pulled it back and its in a discussion stage and remains in the discussion stage."

Harking back to his Navy days, Becker said NAFCU did not want to see credit union overdraft programs become "collateral damage." For right now, he said, "I think they're wrestling with how they want to deal with the APR." The fact the bill has not moved yet shows that the members of Congress are listening to credit union concerns.

Despite credit union opposition to the overdraft bill, CURIA is still moving strong, Becker said, pointing to the legislation's 134 co-sponsors in addition to primary sponsor Paul Kanjorski (D-Pa.). Not only is the number impressive, "10 away from one-third of the entire House," but the list of co-sponsors is comprised of 20% of the House Financial Services Committee and 50% of the leadership of the committee.

While Frank committed to a hearing on CURIA before Congress recesses, Becker seemed a bit uncertain because of all the attention the subprime mortgage crisis is getting. "The subprime crisis…has literally sucked the air out in my view."

He urged, "We and you need to keep pushing around the subprime crisis and any other crisis."

While it would seem that most credit unions and their trade associations stand behind all these positions, Becker advocated that NAFCU provides a unique perspective. His statement was in response to recent opinion pieces published in credit union publications, including Credit Union Times, regarding a CUNA-NAFCU merger.

Becker said two reasons for maintaining NAFCU jumped into his mind. First, NAFCU joined the legal battle with banking trade associations a couple years back to successfully fight off separate credit card disclosure requirements in the state of California.

Second, while a CUNA spokesperson in the audience disagreed, Becker took unqualified credit for NAFCU in maintaining the ability of credit union members to reaffirm their debts with credit unions in the bankruptcy reform bill two years ago. One audience member said the reaffirmations saved his credit union $60,000 a year, several times what he paid in dues to NAFCU, Becker pointed out.

He added that at a recent neighborhood wedding, a friend who happens to be a bankruptcy lawyer told him, "Whoever got that done for those credit unions really did a good thing." Becker recounted that he went in to the office the next day and thanked Director of Legislative Affairs Brad Thaler. He also said that NAFCU's turnover is lower than the trade association average and several staffers have been there 20-plus years. In fact, he highlighted that Thaler is currently the longest tenured credit union trade lobbyist, joining NAFCU in July 1999.

NAFCU's CEO also pointed out, "When you take aside mergers and conversions, we've grown." He did not offer specific figures. And, in the face of retirements and turnover at the association, Becker said they have not missed a beat.

Relating to trade association mergers, Becker said the American Bankers Association-America's Community Bankers combination, due to be completed by yearend, means one less banking trade to deal with but the new ABA will not be the only one. The Independent Community Bankers remains a formidable foe as well.

"All the media play would have you believe there will be only one banking trade association," Becker stated. When the story of the ABA-ACB merger broke, Credit Union Times interviewed ICBA President/CEO Cam Fine for the story, which was included in the July 4, 2007 issue.

Becker indicated that introduction of the Communities First Act–a community bank tax and regulatory relief bill–and a letter to Congress on credit unions' troubles in the Florida real estate scam as evidence of their tenacity when it comes to credit unions.

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