As lawmakers in the House and Senate gathered Monday during a powerful winter storm in Washington, D.C. to certify the 2024 presidential election results, officials with America’s Credit Unions and the Defense Credit Union Council (DCUC) released their list of credit union advocacy priorities for the incoming Congress.
Friday marks the official start of the 119th Congress when new members will be sworn in. The composition of the new Congress has a Republican majority, but by a slight margin in both chambers. The Republicans will have 219 members in the House of Representatives, while Democrats will have 215 members. In the Senate, Republicans have a 53 to 47 lead over Democrats.
For America’s Credit Unions and DCUC, both groups have some similar focuses such as protecting the credit union tax-exempt status.
During a call with members of the media Monday morning, America’s Credit Unions Chief Advocacy Officer Carrie Hunt said protecting the credit union tax-exempt status is their number one priority.
“There will be a lot of work with policy makers behind the scenes over the next few months here going into 2025,” Hunt said. “For us, ensuring that policy makers understand that the credit union tax exemption is not just key to credit unions’ survival, and I will say that again: Credit union tax exemption is key to credit unions’ survival.”
DCUC is similarly focused on protecting the credit union tax status. Also similarly, DCUC and America’s Credit Unions listed reforming the CFPB as a priority during this Congress – especially since the incoming Trump Administration is set to replace current CFPB Director Rohit Chopra.
“With the upcoming transition in leadership at the Consumer Financial Protection Bureau (CFPB), DCUC will encourage Congress to explore potential reforms,” DCUC said in a statement. “Specifically, DCUC is focused on ensuring the CFPB operates in accordance with its founding principles, advocating for a more efficient and compliant structure.”
To read the full list of priorities published by America’s Credit Unions, click here.
To read the full list of priorities published by DCUC, click here.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
