Credit union voices come to White House

In conjunction with the Governmental Affairs Conference, The League of Credit Unions and Affiliates and representatives from several member credit unions met Tuesday at the White House Office of Management and Budget (OMB) to discuss federal financial regulation. This includes CFPB developments and the future of the Community Development Financial Institutions (CDFI) Fund.

The meeting emphasized how credit unions are not-for-profit, member-owned institutions directly accountable to the consumers they serve.

Attendees addressed potential changes at the CFPB, encouraging thoughtful modernization, strong consumer data protection, and appropriate tailoring of rules.

“We appreciate OMB’s careful review of financial regulation and federal programs and assured them that credit unions share that same commitment to accountability and responsible stewardship,” said Samantha Beeler, president of The League of Credit Unions. “Our institutions are consumer-first by design, and regulatory approaches should reflect that cooperative structure.”

The League also highlighted the importance of the CDFI Fund, noting that the 46 CDFIs in Alabama, Florida, Georgia, and Virginia alone support $5.2 billion in lending to local businesses and $17.78 billion in community mortgage lending that helps expand affordable homeownership.  

“Credit unions are among the largest participants in the CDFI Fund, and we see firsthand how these dollars expand affordable homeownership, strengthen small businesses, and create economic opportunity in rural and underserved communities,” said Ibby Dickson, manager of federal advocacy at The League. “Ensuring timely deployment of appropriated funds is critical to advancing affordability and allowing community-based lenders to continue meeting the needs of families who rely on us most.”