The NAFCU Journal January-February 2020 - 20

Regulatory
Expectations

Carrie Hunt,
NAFCU's executive
vice president
of government
affairs and general counsel
Q: NCUA Board Chairman Rodney
Hood has stated that regulation needs
to be effective but not excessive. What
steps has the NCUA Board taken that
reflect this mindset?
The NCUA has put out a proposal
to delay its risk-based capital rule
for further study and is going to
work to mitigate the impact of
CECL. What will be telling is if the
NCUA will choose to issue more
regulations on certain items like
credit unions purchasing banks,
or if they will choose to take a more
flexible approach. Often, NCUA
regulations are not the problem;
credit unions are constrained by
the Federal Credit Union Act (FCUA)
or have stringent exams.

Q: How would you characterize CFPB
Director Kathy Kraninger's rulemaking
philosophy following her first year as
head of the bureau?
The CFPB appears to be taking a pragmatic approach to its rulemaking, but
it has a large agenda and, of course, a
statutory mandate to focus on consumer
protection. The Home Mortgage Disclosure Act (HMDA), third-party debt collection and payday lending all could see
some action. Of note, the CFPB decided
to keep its database public for consumer
complaints. So, while pragmatic, credit
unions will still have some pain points
coming out of the colossal agency.

Political Climate

Chad Adams,
NAFCU's director of
political affairs
Q: Looking toward elections later
this year, how will the environment
affect Congress' legislative agenda and
NAFCU's approach to advocacy?

The closer we get to the election, the
more difficult it will be for Congress
to accomplish much, if anything.
Democrats' and Republicans' desire to
deny the other side a "win" is strong
and real. While Congress may not be
passing substantive legislation that will
benefit the credit union industry, there
is important legislative work being
done at the committee level that, once
developed, will become the baseline
for any future work on the issues. As
such, NAFCU's approach to advocacy will not change. We will remain
laser-focused and continue to work
with members and their staffs to
ensure that the credit union voice is
heard, understood and taken into consideration with any legislation that will
impact credit unions.
Q: How can credit unions engage with
lawmakers on key issues and partner
with NAFCU in its advocacy efforts?
It is always important to weigh in
with your senators and representatives
when prudent, but I encourage credit
union executives to develop a relationship and become acquainted with
their representatives in Congress and
their staffs. The easiest way to do this
is to set up a meeting while they are
home for a district work period, or to
invite them to your credit union for a
visit. The most important part of these
meetings is the follow-up. Always
follow up to thank them for their time
and to let them know that this isn't
the end of the conversation. That way
the door will remain open for the next
time you need their ear, and they are
more likely to remember you. Additionally, once you have that contact
with a staffer or member of Congress,
send them correspondence when an
issue arises in Congress that may affect
your credit union. Once they trust that
you are a source for information on
credit union issues, they will begin to
reach out to you.
As always, NAFCU staff is available
to update you on issues we are working
on, provide you with materials to support our positions, or help you connect.

20

THE NAFCU JOURNAL  JANUARY-FEBRUARY 2020



The NAFCU Journal January-February 2020

Table of Contents for the Digital Edition of The NAFCU Journal January-February 2020

The NAFCU Journal January-February 2020
Contents
Conferences
From the Chair
2020 Advocacy Priorities
The Bottom Line
Leadership Download
Warning: Speed Bumps Ahead
Stepping Into 2020
2020 Vendor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal January-February 2020 - The NAFCU Journal January-February 2020
The NAFCU Journal January-February 2020 - Cover2
The NAFCU Journal January-February 2020 - Contents
The NAFCU Journal January-February 2020 - 2
The NAFCU Journal January-February 2020 - Conferences
The NAFCU Journal January-February 2020 - From the Chair
The NAFCU Journal January-February 2020 - 5
The NAFCU Journal January-February 2020 - 2020 Advocacy Priorities
The NAFCU Journal January-February 2020 - 7
The NAFCU Journal January-February 2020 - The Bottom Line
The NAFCU Journal January-February 2020 - 9
The NAFCU Journal January-February 2020 - Leadership Download
The NAFCU Journal January-February 2020 - 11
The NAFCU Journal January-February 2020 - Warning: Speed Bumps Ahead
The NAFCU Journal January-February 2020 - 13
The NAFCU Journal January-February 2020 - 14
The NAFCU Journal January-February 2020 - 15
The NAFCU Journal January-February 2020 - 16
The NAFCU Journal January-February 2020 - 17
The NAFCU Journal January-February 2020 - Stepping Into 2020
The NAFCU Journal January-February 2020 - 19
The NAFCU Journal January-February 2020 - 20
The NAFCU Journal January-February 2020 - 21
The NAFCU Journal January-February 2020 - 22
The NAFCU Journal January-February 2020 - 2020 Vendor Directory
The NAFCU Journal January-February 2020 - 24
The NAFCU Journal January-February 2020 - 25
The NAFCU Journal January-February 2020 - 26
The NAFCU Journal January-February 2020 - 27
The NAFCU Journal January-February 2020 - 28
The NAFCU Journal January-February 2020 - 29
The NAFCU Journal January-February 2020 - 30
The NAFCU Journal January-February 2020 - 31
The NAFCU Journal January-February 2020 - 32
The NAFCU Journal January-February 2020 - 33
The NAFCU Journal January-February 2020 - Executive Spotlight
The NAFCU Journal January-February 2020 - Management Insight
The NAFCU Journal January-February 2020 - Compliance Central
The NAFCU Journal January-February 2020 - 37
The NAFCU Journal January-February 2020 - Inside NAFCU Services
The NAFCU Journal January-February 2020 - 39
The NAFCU Journal January-February 2020 - From the President’s Desk
The NAFCU Journal January-February 2020 - Cover3
The NAFCU Journal January-February 2020 - Cover4
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