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Gentile in CUInsight: CUNA's New 'Vision,' GAC Highlights

WASHINGTON (3/6/13)--CUInsight Tuesday featured an extensive wrap-up of all the happenings at last week's Governmental Affairs Conference, as seen through the eyes of Credit Union National Association Executive Vice President of Strategic Communications and Engagement Paul Gentile.

This year's GAC "made headlines, caught the attention of official Washington, unveiled a new approach by the federal regulator, and opened the door to a first-time-ever "vision" for the movement to "unite for good," Gentile notes in the cuinsight.com piece.

Among the items highlighted by Gentile are:

  • CUNA President/CEO Bill Cheney's call for credit unions to rally together and "Unite for Good" to help create a nation in which "Americans choose credit unions as their best financial partner";
  • National Credit Union Administration Chairman Debbie Matz's announcement that the agency plans to modernize and revitalize its examination regime and allow credit unions to offer more innovative products and services;
  • Speaker of the House John Boehner's (R-Ohio) declaration that tax code reform will be the first item considered by the U.S. House this year;
  • House Financial Services Committee Chairman Jeb Hensarling's (R-Texas) proclamation that he would not support taxing credit unions;
  • U.S. Rep. Maxine Walters' (D-Calif.) statement of support  for raising the member business lending (MBL) cap; and
  • U.S. Rep. Ed Royce (D-Calif.), author of the MBL bill, urging credit unions to share their MBL stories with Congress.

Other comments under the spotlight: U.S. Reps. Peter King (R-N.Y.) and Brad Sherman (D-Calif.) on allowing credit unions to accept additional forms of supplemental capital; Sen. Elizabeth Warren's (D-Mass.) call for credit unions to support the Consumer Financial Protection Bureau and confirmation of its director, Richard Cordray, who also spoke at the GAC; and Former House Financial Services Committee Chairman Spencer Bauchus (R-Ala.), who noted talks over a bill to replace CFPB's single director with a bipartisan commission.

"These highlights are just part of the story; so much more was discussed in the breakout sessions, hallways, receptions and intervals between sessions," Gentile noted. He suggested readers could find more GAC coverage in the pages of Credit Union Magazine.

CUNA has created a new members-only tax toolkit, which is designed to help credit unions connect with their members and educate the public and policymakers about the importance of the credit union tax status.

For the original CU Insight article, more on the GAC in Credit Union Magazine, and CUNA's Tax Toolkit, use the resource links.

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