Rep. Gary Miller (R-Calif.), vice chairman of the House Financial Services Committee, scolded credit unions for not doing enough of their own lobbying, and leaving it only to their trade associations. He also reviewed the positive and negatives of government- sponsored entities in the secondary mortgage market.
On June 28, Miller introduced H.R. 2572, The Regulatory Relief for Credit Unions Act, which would establish a risk-based capital system for credit unions, authorize the NCUA to delay or modify CFPB regulations and provide additional regulatory relief measures.
Next Page: Introduced by Jan Roche
NAFCU Board Member Jan Roche, president/CEO of the $1.5 billion State Department Federal Credit Union in Alexandria, Va., introduced Rep. Gerry Connolly (D-Va.)
Next Page: Rep. Gerry Connolly
Rep. Gerry Connolly (D-Va.) was very well received after telling his NAFCU Congressional Caucus audience that banks have no leverage with him. In fact, he said he would double down and support credit union legislative priorities over banks’. And, he said the idea credit unions are a threat to banks "doesn't even pass the giggle test."
Next Page: Rep. Ed Royce
Rep. Ed Royce (R-Calif.) held up an ad placed by the banking lobby advocating against credit unions. That money would be better spent making bank loans to small businesses, he said. In February, Royce introduced H.R. 688, which would raise the member business lending cap to 27.5% of assets.
Next Page: Rep. Ed Perlmutter
Rep. Ed Perlmutter (D-Colo.) said the economy could be affected by budget delays and deficit debate in Washington. The country’s deficit is just half of what it was two years ago, he added.
Next Page: Sen Rand Paul
Sen. Rand Paul (R-Ky.) brought his signature smaller government message to the NAFCU stage, saying suspicious activity reports violate the 4th Amendment. Paul is a co-sponsor of S. 968, which would raise the member business lending cap to 27.5% of assets.
(Photos by John Cooke)