Berger, on Hill, thanks lawmakers for CU support

by NAFCU Newsroom

NAFCU President and CEO Dan Berger and the NAFCU lobbying team were on Capitol Hill Thursday as members were wrapping up their work for the year to thank key lawmakers for their support of credit unions. Over the course of the year, NAFCU-led advocacy efforts resulted in several bipartisan measures in support of credit unions being introduced.

Some of the big wins for credit unions this year:

  • NDAA: The final conference report for the fiscal year 2020 National Defense Authorization Act (NDAA) stripped a credit union-opposed provision that would have treated big banks, such as Wells Fargo, the same as a military installation’s local, not-for-profit credit unions when it came to nominal leases. NAFCU’s efforts to educate lawmakers on this harmful provision began in April, and the association teamed up with the Defense Credit Union Council (DCUC) to advocate against its inclusion. DCUC President and CEO Tony Hernandez joined Berger on the Hill yesterday, and the two specifically thanked House Armed Services Subcommittee Chairwoman Jackie Speier, D-Calif., and House Armed Services Subcommittee Chairman John Garamendi, D-Calif., who spearheaded a bipartisan letter urging the NDAA conference committee to remove the provision before finalizing the bill. Both chambers have passed the bill; it awaits the president’s signature.

 

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