WASHINGTON — With a massive phone and e-mail campaign and a useof the new media, credit unions and their advocates are trying hardto win passage of the Credit Union Regulatory Relief Act during itsscheduled House of Representatives vote on Tuesday.
|Both major trade associations have urged members to contactlawmakers both about the virtues of the bill (H.R. 5519) and tocounter efforts by the banking lobby, including a fly-in by some ofits members to try to kill the measure.
|“Our members are emphasizing that credit unions need regulatoryrelief. They haven't been the bad actors in the subprime debacle,”said NAFCU Director of Legislative Affairs Brad Thaler.
|In a YouTube plea posted Friday, a night, a shirtsleeves-cladCUNA President Dan Mica said: “we've had enough of this nonsensefrom the banks. They've declared all-out war…We need to flood theCongress with our concern over the bankers' attitude.”
|CURRA is scheduled to be discussed after 2 p.m. Tuesday underspecial rules, which mean the measure could be approved on anexpedited basis by voice vote. Officials of NAFCU and CUNA areworking overtime because under these rules, if a vote on themeasure is called for, it must receive support from two-thirds ofthose present.
|CURRA includes a provision to adopt underserved areas and newsections that would allow credit unions to offer payday lendingservices to anyone in their fields of membership and encouragingsmall business development in rural communities.
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