ATLANTIC CITY, N.J. — Key lawmakers are interested in injecting credit union capital issues into the general capital discussions in Congress, according to CUNA President/CEO Bill Cheney.
Cheney said Oct. 4 during the New Jersey Credit Union League's Annual Convention that members of Congress in key positions for credit unions want to include credit unions in upcoming capital discussions on the Hill.
Alternative capital is priority No. 2 for CUNA's lobbying efforts-second to member business lending, CUNA's CEO said. He noted that Basel 3 will bring bank capital requirements up to 7%, where the credit unions already are.
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