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Cornerstone CUs Visit Legislators on Capitol Hill
Friday, February 26, 2016 6:55 AM

Houston Texas Fire Fighters FCU CEO Steve Gilman (seated) and Congressman Pete Olson.

On Wednesday, credit union leaders from the Cornerstone region visited with many of their legislators on Capitol Hill during the final leg of the CUNA Governmental Affairs Conference. The top issues brought to each discussion included:

  • Data security
  • Regulatory relief
  • Tax exempt status
  • HR 3048 by Rep. Roger
    Chairman of the House Financial Services Committee, Rep. Jeb Hensarling from Texas, meets with Cornerstone CEO Dick Ensweiler and a contingent of credit union leaders.
    Williams, a bill that would exempt all credit unions and community banks under $10 billion in assets from future rules of the CPFB unless the CFPB can prove why those credit unions should be included.

During the visits, credit unions shared the impact that data breaches continue to have, not only on the credit union but also on their

Oklahoma Rep. Jim Bridenstine meets with credit union leaders.

Credit unions also shared stories about the difficulty in complying with overly burdensome regulations, especially in small shops. Many credit unions cited having to increase their staff to keep up and, in some cases, have stopped offering certain services.

Chairman Hensarling reminded credit unions how critical it is that they continue

Oklahoma Sen. James Lankford meets with credit union leaders.
to share their stories. Anecdotal information helps demonstrate the challenges you face due to over-regulation and the high cost of data breaches.



View the Cornerstone GAC Gallery of images.

Texas Rep. Pete Sessions with Texas People FCU's CEO Andy Reed.
Left to right: Houston Highway Special Projects and Research Manager Austin McCafferty; Peoples Trust FCU Director Jerold La Beaux; Texas Rep. Sheila Jackson Lee; and SPCO Credit Union CEO Tim Adams.
Left to right: Arkansas Superior FCU CEO Dwayne Ashcraft and Senior VP Operations Carolyn Ashcraft; Arkansas Sen. John Boozman; Arkansas Credit Union League President Reta Kahley; and Northeast Arkansas FCU CEO Chad Chadwick.