Meeting with key committee leaders, legislators

Keeping credit unions, their issues and concerns front and center on Capitol Hill, America’s Credit Unions President/CEO Scott Simpson and credit union advocacy leaders engaged with key legislators in several meetings Wednesday.

Simpson met with Sen. Angela Alsobrooks, D-Md., House Financial Services Committee Chairman French Hill, R-Ark., and House Ways and Means Committee Chairman Jason Smith, R-Mo.
Alsobrooks introduced a bipartisan bill to expand deposit insurance coverage for non-interest-bearing transaction accounts, and Simpson discussed the importance of parity for credit unions in that and other potential deposit insurance reform policies.

The House Financial Services Committee recently cleared several credit union-supported bills aimed at combating fraud and advancing artificial intelligence. America’s Credit Unions thanked  Hill and the committee for its work on the subject, and shared how the organization can work alongside the committee on regulatory relief and modernization efforts.

The meeting with Smith occurred as discussions are taking place on potential additional budget reconciliation bills, which falls under the purview of the Ways and Means Committee. Simpson shared the importance of the tax status to credit unions serving Missouri communities and how credit unions stand ready to service Trump Accounts, helping members build wealth for their children.

Additional meetings are scheduled for tomorrow. America’s Credit Unions will continue to advocate on Capitol Hill for credit union priorities in the 119th Congress.