WASHINGTON – Aspire FCU President/CEO Tom O’Shea joined CUNA President/CEO Jim Nussle and approximately 20 credit union representatives from across the country at a meeting with Treasury Department officials Tuesday to discuss credit union issues in the current regulatory environment. This meeting is one of many CUNA, the state leagues and their member credit unions have engaged in to support the Campaign for Common-Sense Regulation.
|Aspire FCU President/CEO Tom O’Shea (second from the right) at a meeting with Treasury Department officials.|
“We are grateful that Treasury scheduled this meeting to learn more about credit union issues.” Nussle said. “This meeting was a positive step in the right direction for our government to understand that credit unions are and have always been pro-consumer organizations, and further regulatory requirements are not necessary to make us better.”
Treasury arranged the meeting to gather feedback from credit unions and their representatives as the agency prepares to write a white paper in response to President Donald Trump’s Feb. 3 executive order on core principles in regulating the U.S. financial system.
CUNA’s Campaign for Common-Sense Regulation aims to reduce regulation on credit unions by compelling policymakers to end one-size-fits-all regulations better suited for Wall Street than credit unions on Main Street.
O’Shea is a member of the CFPB’s Credit Union Advisory Council and serves on CULAC’s board of trustees where he is an executive committee member.
in Legislative & Political News