America’s Credit Unions looks to build on the strong foundations of its legacy organizations to ensure credit unions and those they serve can thrive financially. America’s Credit Unions President/CEO Jim Nussle wrote to congressional leaders and the heads of regulatory agencies Tuesday, to outline the policy priorities the new organization will advance for the industry.
“Our policy priorities for 2024 are to protect, empower, and advance the needs of credit unions and their members nationwide,” wrote Nussle. “We are committed to fiercely advocating for forward-thinking policies that uplift people and communities through their financial partnerships with credit unions. Within the framework of these three priorities, we are focused on developing a regulatory and legislative environment that enables credit unions – and ultimately our country – to thrive.”
America’s Credit Unions will work in 2024 to:
- Preserve the credit union tax status;
- Hold regulators accountable;
- Reform the CFPB leadership structure;
- Prevent an unlimited expansion of NCUA’s authority;
- Protect the interchange system;
- Establish federal data protection standards;
- Ensure a fair regulatory environment;
- Expand both business and consumer access to credit unions;
- Lift member business lending caps and regulatory limits;
- Increase loan maturity limits;
- Allow new investment options for credit unions; and
- Support innovation and emerging technologies balanced with regulatory oversight.
In addition to Congress, the letter was sent to the NCUA, CFPB, Small Business Administration, Federal Communications Commission, Environmental Protection Agency, Federal Trade Commission, Federal Reserve Board, Treasury Department, Federal Housing Finance Agency, and others.