With the new administration transitioning to the White House following President Donald Trump’s inauguration yesterday and the 119th Congress well underway, America’s Credit Unions is engaging officials, lawmakers, and regulators on key credit union priorities.  

Shortly after the election, America’s Credit Unions reached out to the Trump transition team. The letter outlined advocacy priorities and the need to continue the work from his first administration, including the responsibility that comes from the credit union tax status.

America’s Credit Unions President/CEO Jim Nussle urged the administration’s support of credit unions and continuing efforts to:

Protect

• The credit union tax status;
• Credit unions from regulatory overreach from agencies such as the CFPB; 
• The ability of credit unions to charge reasonable fees for services;
• The current interchange system; and
• Financial institutions from efforts to shift liability to them for the fraud of others.

Empower

• Credit unions to have the ability to grow and serve their members;
• The creation of national data security standards for financial data;
• Credit unions to have the tools to protect their members from fraud; and
• Credit unions to compete on a level playing field with unregulated entities operating in the financial services realm.

Advance

• The ability of credit unions to serve more members;
• The ability of credit unions to meet the lending needs of consumers and Main Street;
• Investment options for credit unions; and
• Access to innovation and technology for credit unions.

Nussle congratulated Trump and Vice President J.D. Vance following their election victory, noting that “we look forward to continuing to share the credit union difference with a Trump Administration and highlight credit union priorities – especially pursuing much-needed regulatory relief and protecting our tax status as Congress intended more than 90 years ago.”

As cabinet confirmations and nominations continue, America’s Credit Unions will inform newly appointed officials of the needs of more than 140 million credit union members and share the credit union difference.