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CUNA Submits Letters to Congress on Auto Lending CRA and Small Biz Lending
Tuesday, May 8, 2018 6:45 AM

Yesterday, Credit Union National Association sent two letters to Congress in support of several bills on the House floor this week.

  • S.J. Res. 57: CUNA President/CEO Jim Nussle wrote this letter in support of S. J. Res. 57 which would use the Congressional Review Act to void the Bureau of Consumer Financial Protection’s indirect auto lending bulletin from 2013. CUNA supports the joint resolution as small credit unions are harmed most by poorly tailored policymaking, and CFPB bulletins should be subject to the CRA. Additionally, credit unions support using the CRA for indirect auto lending guidance.
  • H.R. 4743: CUNA sent this letter to express support of the Small Business 7(a) Lending Oversight Reform Act of 2018, which is designed to improve the Small Business Administration's 7(a) lending program. Through SBA-administered loan programs, credit unions can provide additional lending opportunities to qualified entrepreneurs.

Cornerstone Credit Union League supports CUNA's efforts, which reflect the association's stance on these important issues.