NASCUS to Participate in Congressional Briefing on H.R. 719
July 16 The Coalition for Credit Union Access will be hosting a Congressional Briefing on H.R. 719, the Capital Access for Small Business and Jobs Act, on Thursday, July 18 at 12:00pm, in Washington, DC.
As sponsors of the bill, Congressmen Peter King (R-NY) and Brad Sherman (D-CA) will serve as keynote speakers, followed by a credit union panel including NASCUS President and CEO Mary Martha Fortney, CUNA President and CEO Bill Cheney, and NAFCU President and CEO Fred Becker, and others. Representatives from AACUL, the Credit Union Association of New York and Beth Page Federal Credit Union will also be on hand to deliver the message to Congress that the time is now for Credit Union Capital Reform. Among several points, the groups want Congress to understand that .R. 719 would help all types and sizes of credit unions and enhance credit union safety and soundness.
"NASCUS and state regulators have long recognized that credit unions are disadvantaged by a capital structure limited to retained earnings, and this legislation would provide the solution to this problem and we are pleased to be a part of this important Congressional Briefing," said NASCUS President and CEO Mary Martha Fortney.