DCUC statement, ranking member waters reintroduces H.R. 9767, the “Promoting and advancing communities of color through Inclusive Lending Act”
WASHINGTON, DC (September 27, 2024) — The Defense Credit Union Council (DCUC) issues the following statement regarding the reintroduction of legislation by Ranking Member Waters (D-CA) aimed at promoting racial equity in lending, in honor of the 30th anniversary of the Community Development Financial Institutions (CDFI) Fund.
“DCUC expresses its support for the objectives of this legislation, particularly in enhancing support for Community Development Financial Institutions (CDFIs). We appreciate Ranking Member Waters’ dedication to this important cause. However, we are concerned about the additional reporting requirements this legislation may impose on credit unions. We look forward to collaborating with Ranking Member Waters to further her goals of advancing racial equity in lending while ensuring that the reporting obligations remain manageable, especially for the many smaller credit unions that serve minority communities.”
For more information on DCUC’s advocacy, please visit dcuc.org/advocacy and contact Jason Stverak, DCUC Chief Advocacy Officer at jstverak@dcuc.org.
About Defense Credit Union Council (DCUC)
The Defense Credit Union Council is the trusted resource for credit unions on all military and veteran matters. By maintaining a close and constant liaison with the Pentagon, Capitol Hill, and NCUA, the Council champions the interests of credit unions serving our military and veteran communities by coordinating policy, procedures, and legislation impacting morale and welfare, financial readiness, and the delivery of quality financial products and services. Organized in 1963, the Council’s membership is comprised of more than 180 credit unions with over 37 million members. If you would like more information about this topic, please contact DCUC at hlaverty@dcuc.org.
