America’s Credit Unions leaders talk overdraft

America’s Credit Unions leaders provided more than 1,200 credit union professionals with the latest on harmful regulatory proposals and how credit unions must continue to advocate for themselves and their members during a webinar Thursday.

Chief Advocacy Officer Carrie Hunt, Chief Communications and Marketing Officer Meghan Small, and Senior Vice President of Advocacy Greg Mesack provided background on NCUA’s recent call report changes regarding overdraft and other fee income, the CFPB’s overdraft fee proposal, and more, as well as how America’s Credit Unions is fighting back against them.

“America’s Credit Unions has been very vocal about our perspective that our members should be able to offer overdraft protection—if their members want it—and their programs should be tailored to suit the needs of their membership,” Hunt said. “Credit unions can offer entire menus of products and services to their members, and we think credit unions themselves are in the best position to decide that.”

Hunt, Mesack and Small said America’s Credit Unions—along with Leagues, credit unions, and other stakeholders—need to make sure the reality of the credit union difference is getting out there. They pointed to the example of Congressional testimony from America’s Credit Unions Transition Board Secretary Karen Harbin (President/CEO of Commonwealth Credit Union) on how her credit union monitors and tracks overdraft usage to ensure members are able to use the services they need safely.

A recording of the webinar will be available to registrants for future viewing. Additional advocacy resources, including overdraft talking points and more, are available online.

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