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GAC Wrap-up and Video Highlights from Wednesday
Thursday, March 2, 2017 6:45 AM

Record-breaking event welcomes legislators to stage.

On the final day at the Washington Convention Center, CUNA Governmental Affairs (GAC) attendees heard from veteran CBSNews reporter Bob Schieffer and a parade of legislators.

Schieffer addressed the effect that the “digital age” has had on the delivery of information and how people are connected. “We are a less patient society than we once were… and a ruder society than we were before,” he said.

Attendees also heard from legislators, who brought messages of credit union support to the stage.

Sen. Ted Cruz (R-Texas) remarked that Dodd-Frank was designed to stop "too big to fail," and how did that turn out? They're bigger and making more money than ever, he said. Credit unions and small financial institutions are getting hammered. It's the smaller institutions what are getting driven out of business.

Cruz also said that credit unions should be pushing their senators hard to act through reconciliation this summer and fall to repeal Obamacare and Dodd-Frank. If we can get tax reform, regulatory reform, repeal of Dodd-Frank and Obamacare, he said, we'll have a great 2017 and see great economic growth.

If there are regs that came out in the last six months of 2016, Cruz added, let us know immediately so we can reverse them under the Congressional Review Act.

Regarding the new bedfellows for common-sense CFPB reform, Sen. John Cornyn (R-Texas) said, "Wait, did I hear that right? Banks and credit unions working together? Peace in the Middle East must not be far behind."

On Texas' role in the economic recovery, Cornyn said, "Without Texas, our country might still be in a recession."

Hill visits started in earnest as credit union advocates made their way to Capitol Hill to express the need for regulatory relief.

See more here.