2019 Advocacy Agenda to Continue Advancement of CU Movement

CUNA and the state leagues advocacy agenda for 2019 reflects the needs of the credit union movement and the realities of the 2018 mid-term election results. As the 116th Congress convenes and new leadership takes over at federal regulators including the Consumer Financial Protection Bureau (CFPB), and later the National Credit Union Administration (NCUA), CUNA Chief Advocacy officer Ryan Donovan said the CUNA/league system is eager to continue its work for and alongside the credit union movement.

“Our agenda has been developed by listening to credit unions, leagues and other stakeholders throughout 2018, and is fine-tuned to help us continue to revolutionize the operating environment for credit unions,” Donovan said. “Credit unions have told us they want us to remove regulatory burdens, expand and protect credit union powers and opportunities, enhance information security and preserve the credit union tax status, and that’s what our agenda is built around.”

This includes:

  • Continuing to advance CUNA’s vision for CFPB reform;
  • Working to fix burdensome rules and slow the pace of new rules, and pushing the CFPB to use its exemption authority;
  • Continuing to work with Congress to modernize the Bank Secrecy Act so that credit unions’ burdens are reduced without jeopardizing the important national security and law enforcement functions of anti-money laundering laws;
  • Standing with credit unions facing predatory, advocacy related litigation;
  • Pursuing Federal Credit Union Act Modernization legislation;
  • Continuing to defend NCUA’s field-of-membership rule in court;
  • Working to reduce the number of data breaches, by continuing to press Congress and the courts to hold the merchants that accepts payment cards to the same security standards as the credit unions that issue the cards;
  • Protecting credit unions against overly restrictive privacy regulations that impede the delivery of safe and affordable financial services to credit union members; and
  • Working to preserve the credit union income tax status at both the federal and the state level.