For a dozen years, I’ve attended events like NAFCU’s Congressional Caucus and CUNA’s Governmental Affairs Conference. Every year, wise members of Congress play to their audience, smile and shake hands. If there were babies there to kiss at a credit union conference, they’d be doing that too. Politicians stay politicians by telling the people what they want to hear. Actually doing something is an entirely different question.

One of the hot topics during the caucus was the Consumer Financial Protection Bureau. Many of the members acknowledged that credit unions were simply collateral damage in the legislative maelstrom occurring in kneejerk reaction to the financial crisis. GOP Rep. Randy Neugebauer noted, “We understand what CFPB is going to mean. We understand what impact interchange is going to have and everything that’s pouring out of this administration.”

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