WASHINGTON – Credit Union of New Jersey President/CEO and NJCUL Board Chairman Andy Jaeger was among a small group of credit union CEOs selected to brief Vice President Mike Pence’s Chief Economist Mark Calabria on the credit union industry and the need for common sense regulation.
Jaeger joined Michael Kloiber of Tinker FCU (Oklahoma City, OK); Crystal Long of GECU (El Paso, TX); Ty Muse of Visions FCU (Endicott, NY); and Chuck Purvis of Coastal FCU (Raleigh, NC) in the special meeting with Mark Calabria, chief economist for Vice President Pence, during the recent CUNA Governmental Affairs Conference.
The briefing focused on the increasing regulatory burden credit unions have faced under Dodd-Frank and the Consumer Financial Protection Bureau (CFPB).
Calabria, who has been referred to as a libertarian advocate of free markets, was receptive to the group’s concerns and positions though he felt the Administration’s immediate focus would be on healthcare, tax and immigration reforms. He suggested that President Trump would likely let CFPB Director Richard Cordray finish his term rather than remove him for cause, and that CFPB reform would probably have to wait until 2018.
Before joining Vice President Pence’s staff, Calabria was director of financial regulation studies at the Cato Institute, where he was a prominent voice on financial and economic policy and an expert on mortgage and housing reform. Prior to joining Cato in 2009, he worked for the Senate Banking Committee, where he handled housing, mortgage finance, economics, banking and insurance for then-ranking member Richard Shelby (R-Ala.) and previously served as a committee staff member under Chairman Phil Gramm (R-TX).
His resume includes stints at the Department of Housing and Urban Development, the National Association of Realtors and the National Association of Home Builders. He earned a PhD from George Mason University.
in Legislative & Political News