America’s Credit Unions Reveal 2024 Priorities

Officials from the newly-formed organization America’s Credit Unions sent a detailed letter to congressional lawmakers and regulatory leaders Tuesday to inform them of the policy priorities they plan to focus on for 2024 and plan to “fiercely” advocate for credit unions.

The letter, signed by America’s Credit Unions President/CEO Jim Nussle, laid out 12 policy priorities for the year. The priorities included the following:

1. Preserve the credit union tax status.
2. Hold regulators accountable.
3. Reform the CFPB leadership structure.
4. Prevent an unlimited expansion of the NCUA’s authority.
5. Protect the interchange system.
6. Establish federal data protection standards.
7. Ensure a fair regulatory environment.
8. Expand both business and consumer access to credit unions.
9. Lift member business lending caps and regulatory limits.
10. Increase loan maturity limits.
11. Allow new investment options for credit unions.
12. Support innovation and emerging technologies balanced with regulatory oversight.

Nussle wrote, “Our policy priorities for 2024 are to protect, empower and advance the needs of credit unions and their members nationwide. We are committed to fiercely advocating for forward-thinking policies that uplift people and communities through their financial partnerships with credit unions. Within the framework of these three priorities, we are focused on developing a regulatory and legislative environment that enables credit unions – and ultimately our country – to thrive.”

According to America’s Credit Unions, the letter was sent to U.S. House and Senate leaders as well as to the NCUA, CFPB, Small Business Administration, Federal Communications Commission, Environmental Protection Agency, Federal Trade Commission, Federal Reserve Board, Treasury Department, Federal Housing Finance Agency and other organizations.

READ MORE: The full letter to Congress and regulators from America’s Credit Unions.