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News Now

Washington
Senate Democrats meet with CUNA financial services
WASHINGTON (2/12/09)—The Credit Union National Association (CUNA) took part in a meeting Wednesday with members of the Senate Democratic Caucus and leading financial industry trade associations. According to CUNA Senior Vice President of Legislative Affairs John Magill the discussion focused on the economic stimulus bill, financial recovery plan, and the future needs of the financial industry to help the economy recover, and also included health care reform. Magill said many of the financial services participants, including representatives from banking, the securities industry, and the Realtors, had the same types of concerns as have credit unions. He said topics ranged from: How to thaw credit markets, how to restore consumer confidence, what are the post-stimulus, post-TARP-announcement issues that need to be addressed next by lawmakers? "We were very pleased to be invited to participate in this meeting. The exchange of ideas about how to get the economy going again was very positive," Magill said. Ryan Donovan, CUNA vice president of legislative affairs, added that there also was recognition that there is a lot of work ahead. “We all know there is no easy, quick solution, but I think there was general agreement that the stimulus bill combined with the Treasury (TARP) action were big steps in the right direction," Donovan said. Those present included Democratic Sens. Debbie Stabenow (Mich.), Thomas Carper (Del.), Amy Klobacher (Minn.) , Michael Bennett (Colo.), Mark Begich (Ark.), Benjamin Cardin (Md.), Ted Kaufman (Del.), Sheldon Whitehouse (R.I.), Jack Reed (R.I.), Kay Hagen (N.C.), Ben Nelson (Neb.), Bill Nelson (Fla.), Jeanne Shaheen (N.H.), Jon Tester (Mont.), Daniel Akaka (Hawaii), Evan Bayh (Ind.), John Rockefeller (W.V.), Roland Burris (Ill.), Frank Lautenberg (N.J.), Mark Warner (Va.), Claire McCaskill (Mo.), Sherrod Brown (Ohio) and Tom Udall (N.M.).


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