The NAFCU Journal January - February 2018 - 22

CLEAR
PATH FORWARD
A

Industry experts address regulatory and legislative priorities for 2018

By Rebekah Rast

N

AFCU is no stranger to the
challenges and needs facing
the credit union industry. This
is an association that understands the importance of - and works
daily toward - achieving a healthy
and appropriate environment in which
credit unions can thrive. As NAFCU
builds upon its momentum of last year,
the association will work to clear a path
that will allow credit unions to grow and
better serve their members.

The association's reach for a viable and
healthy credit union industry, however,
doesn't stop at the policy level or
even with these five tenets. Late last
year, the association became the first
financial trade group in the U.S. to join
Hyperledger, an open-source, global
collaboration effort to advance crossindustry blockchain technologies.
Hyperledger will be an invaluable
partner as credit unions innovate to
meet their members' needs.

To accomplish this via both regulatory
and legislative tracks, NAFCU has
adopted five tenets, which include:

NAFCU will continue to take advantage
of opportunities that harness the power
of technology to prepare the industry for the future. As NAFCU moves
forward with this aim, the association's
government affairs team highlights
some certainties and possibilities in
this new year that should be on credit
unions' radar.

creating a legislative and regulatory
environment that allows credit unions
to grow;
■■ seeking appropriate, tailored rules for
credit unions and both legislative and
regulatory relief from growing burdens;
■■ ensuring a fair playing field - through
regulatory and legislative processes -
so credit unions have as many opportunities as banks and nonregulated
entities to offer provident credit to the
nation's consumers;
■■ supporting transparency and independent oversight of all regulators,
including the Consumer Financial
Protection Bureau (CFPB); and
■■ maintaining a strong, independent
National Credit Union Administration
(NCUA) as the primary regulator for
credit unions.
■■

22

REG RELIEF
Carrie R. Hunt, NAFCU
Executive Vice President
of Government Affairs
and General Counsel
The House passed the
CHOICE Act last year. Will we see this
bill - or any of its provisions - pass
the Senate? Will both chambers work
on smaller regulatory relief bills?
The Senate is not going to act on the
CHOICE Act as passed by the House.
However, both the House and Senate

are working on smaller regulatory relief
measures that can get support across the
aisle. This will likely continue throughout the remainder of this Congress.
How can credit unions help NAFCU
advocate for more regulatory relief?
Stories on how regulatory burdens
hurt you and your members are what
members of Congress need to hear. We
encourage credit unions to meet with
their lawmakers or reach out to them via
NAFCU's Grassroots Action Center. It
is important to stay engaged throughout
the year to keep credit union industry
needs at the forefront.
Do the regulators understand the
regulatory burden on the credit union
industry, and are they working to ease
any rules?
Under the Trump administration, we
have seen a few encouraging signs
that regulators are interested in easing burdens on credit unions. The
Treasury Department issued a report
last June that contained a number of
NAFCU-supported provisions to make
it easier for credit unions to serve their
members. Additionally, the NCUA,
under Chairman J. Mark McWatters,
has taken some positive steps toward
relief, including possibly revisiting the
risk-based capital rule and calling for
the CFPB to make greater use of its
exemption authority for credit unions.
At the CFPB, we were pleased to see

THE NAFCU JOURNAL JANUARY-FEBRUARY 2018



Table of Contents for the Digital Edition of The NAFCU Journal January - February 2018

Conferences
From the Chair
Advocacy Snapshot
Washington and Industry Briefs
Growth Strategies
Stepping Into the Future
A Clear Path Forward
Economic Outlook: It’s Complicated
NAFCU 2018 Vendor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal January - February 2018 - Cover1
The NAFCU Journal January - February 2018 - Cover2
The NAFCU Journal January - February 2018 - 1
The NAFCU Journal January - February 2018 - 2
The NAFCU Journal January - February 2018 - Conferences
The NAFCU Journal January - February 2018 - From the Chair
The NAFCU Journal January - February 2018 - 5
The NAFCU Journal January - February 2018 - Advocacy Snapshot
The NAFCU Journal January - February 2018 - 7
The NAFCU Journal January - February 2018 - Washington and Industry Briefs
The NAFCU Journal January - February 2018 - 9
The NAFCU Journal January - February 2018 - 10
The NAFCU Journal January - February 2018 - 11
The NAFCU Journal January - February 2018 - 12
The NAFCU Journal January - February 2018 - 13
The NAFCU Journal January - February 2018 - 14
The NAFCU Journal January - February 2018 - 15
The NAFCU Journal January - February 2018 - Growth Strategies
The NAFCU Journal January - February 2018 - 17
The NAFCU Journal January - February 2018 - Stepping Into the Future
The NAFCU Journal January - February 2018 - 19
The NAFCU Journal January - February 2018 - 20
The NAFCU Journal January - February 2018 - 21
The NAFCU Journal January - February 2018 - A Clear Path Forward
The NAFCU Journal January - February 2018 - 23
The NAFCU Journal January - February 2018 - 24
The NAFCU Journal January - February 2018 - 25
The NAFCU Journal January - February 2018 - Economic Outlook: It’s Complicated
The NAFCU Journal January - February 2018 - 27
The NAFCU Journal January - February 2018 - 28
The NAFCU Journal January - February 2018 - 29
The NAFCU Journal January - February 2018 - 30
The NAFCU Journal January - February 2018 - 31
The NAFCU Journal January - February 2018 - 32
The NAFCU Journal January - February 2018 - 33
The NAFCU Journal January - February 2018 - 34
The NAFCU Journal January - February 2018 - NAFCU 2018 Vendor Directory
The NAFCU Journal January - February 2018 - 36
The NAFCU Journal January - February 2018 - 37
The NAFCU Journal January - February 2018 - 38
The NAFCU Journal January - February 2018 - 39
The NAFCU Journal January - February 2018 - 40
The NAFCU Journal January - February 2018 - 41
The NAFCU Journal January - February 2018 - 42
The NAFCU Journal January - February 2018 - 43
The NAFCU Journal January - February 2018 - 44
The NAFCU Journal January - February 2018 - 45
The NAFCU Journal January - February 2018 - 46
The NAFCU Journal January - February 2018 - 47
The NAFCU Journal January - February 2018 - 48
The NAFCU Journal January - February 2018 - 49
The NAFCU Journal January - February 2018 - 50
The NAFCU Journal January - February 2018 - 51
The NAFCU Journal January - February 2018 - Executive Spotlight
The NAFCU Journal January - February 2018 - 53
The NAFCU Journal January - February 2018 - Management Insight
The NAFCU Journal January - February 2018 - 55
The NAFCU Journal January - February 2018 - Compliance Central
The NAFCU Journal January - February 2018 - 57
The NAFCU Journal January - February 2018 - Inside NAFCU Services
The NAFCU Journal January - February 2018 - 59
The NAFCU Journal January - February 2018 - From the President’s Desk
The NAFCU Journal January - February 2018 - Cover3
The NAFCU Journal January - February 2018 - Cover4
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