NATIONAL HARBOR, Md. — Because the Obama administration and congressional leaders are coordinating their agendas on financial services issues, credit unions and their lobbyists are having to work hard to play defense, NAFCU Executive Vice President B. Dan Berger said today.

He and NAFCU Director of Legislative Affairs Brad Thaler told attendees at NAFCU's 42nd Annual Conference and Exhibition that credit unions have lots of friends on both sides of the aisle that will help in upcoming legislative battles. But both men urged credit unions to be vigilant in speaking to their lawmakers to prevent bad things from happening to credit unions, since they did not cause the current financial crisis.

Berger said they had offered an alternative to the Obama administration's plan to create a new agency to regulate consumer financial products that focuses on regulating those who caused problems, such as mortgage brokers and finance companies, without adding to credit unions' regulatory burdens.