The Transaction Account Guarantee extension, which both CUNA and NAFCU are both pushing to package with member business lending legislation, could be losing steam in Congress despite the recent introduction of S. 3637 by Senate Majority Leader Harry Reid (D-Nev.).

On Nov. 27, The Financial Services Roundtable, an advocacy group representing the 100 largest financial services companies, said in a letter from President/CEO Tim Pawlenty to Reid and Minority Leader Mitch McConnell (R-Ky.) that not only have bank balance sheets improved since TAG was extended in 2010, continuing the program “may create the misperception of instability, at the very time that the financial services sector has made significant and positive reforms.”

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.