Waco Credit Union Leaders Meet with Congressman Pete Sessions on Key Policy Issues

Credit union leaders from Central Texas met with Pete Sessions on April 24 for a regularly scheduled quarterly discussion, continuing an ongoing dialogue focused on the legislative and regulatory environment affecting credit unions and their members.

During the session, participants highlighted several priority issues shaping the financial services landscape. A central topic was the structure and oversight of the Consumer Financial Protection Bureau. Attendees expressed support for bringing the bureau under the congressional appropriations process and moving away from a single-director leadership model, emphasizing the importance of transparency, accountability and balanced governance in federal regulation.

The group also discussed the potential impact of rate caps and fee restrictions, noting that such policies could have unintended consequences for credit unions. Leaders underscored that limits on interest rates and fees may reduce the ability of credit unions to cover operational costs, invest in fraud prevention and maintain affordable financial products, particularly for members with higher-risk profiles.

In addition, the conversation addressed emerging policy discussions around digital assets, including stablecoins and virtual currency. Credit union leaders emphasized the need for regulatory parity with banks as these frameworks evolve, stressing that credit unions should have equal opportunities to participate in and serve members within the digital financial ecosystem.

Pictured, front row, from left: William Palasota, president/CEO, Educators Credit Union; Gretchen Ziegler, vice president of credit union relations, Cornerstone League; Don Cox, president/CEO, Members Choice of Central Texas Federal Credit Union; Orlando Rodriguez, senior account manager, First Central Credit Union; Kevin Hood, president/CEO, 1st University Credit Union; and Neil Ling, president/CEO, GENCO Federal Credit Union.

Back row, from left: Congressman Pete Sessions, Vicki Mercer, district director, and Stan Mitchell, board member, Educators Credit Union.