With the new administration officially underway, so is credit union outreach to key federal financial agencies.  America’s Credit Unions President/CEO Jim Nussle sent letters to each director, communicating the top credit union priorities for 2025 and describing several issues pertinent to credit unions that each agency should consider. 

Agency leaders contacted include:

• Federal Reserve Board Chairman Jerome Powell
  • The letter noted credit unions’ strong opposition to debit interchange cap changes under Regulation II, as well as the importance of ensuring a fair regulatory environment and streamlining discount window operations. 
• Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki
  • Nussle outlined the compliance challenges FinCEN should pursue this year.  This includes the need to modernize reporting forms and filing processes, increasing the Currency Transaction Report and Suspicious Activity Report reporting threshold, informing risk-based reporting through feedback from law enforcement, and more.
• Federal Communications Commission Chair Brendan Carr
  • The letter emphasizes the need for clear and fair regulatory standards that protect consumers while supporting the operational needs of credit unions. It  notes that credit union priorities align with the FCC’s commitment to protecting consumers, fostering innovation, and ensuring robust competition. 
• Community Development Financial Institutions Fund (CDFI) Director Pravina Raghavan
  • Nussle outlined support for more transparent and collaborative practices within the Fund’s operations. The letter also envisions a “CDFI Fund that continues to prioritize the needs of the communities it serves, particularly those that have been historically marginalized.”
• Office of Public Liaison Director Jim Goyer
  • The letter emphasizes America’s Credit Unions’ policy priorities and notes the organization is eager to participate in White House convenings and events to discuss financial services policies, share insights, and identify solutions to pressing economic challenges.
• National Economic Council Director Kevin Hassett
  • Nussle highlighted credit unions’ long history of delivering tangible financial benefits to members and communities and expressed the need to amplify the efforts through collaboration with the council. 
• Acting Small Business Administration Administrator Everett Woodel
  • The letter notes credit unions are looking to build a
    partnership that leverages credit unions' shared goals to expand access to capital for small businesses.
• Department of Defense
  • Nussle noted credit unions look forward to addressing challenges and opportunities to enhance partnerships with the DoD to prioritize the financial stability of military communities. 

America’s Credit Unions is focused on working directly with federal agencies in 2025 to protect, empower, and advance the needs of credit unions and their members nationwide.