NAFCU Launches 2023 Advocacy Priorities

​Today NAFCU launched its 2023 Advocacy Priorities aimed at strengthening the credit union industry and ensuring it can effectively meet the current and future needs of its 134 million members. Here's a quick look at what we'll be focused on this year:

• Growth: NAFCU advocates for a legislative and regulatory environment that allows credit unions to grow so they can serve more Americans and the Main Street small businesses they rely on.
• Technology and Innovation: As consumers look for innovative ways to easily and effectively manage their finances, NAFCU is working to ensure credit unions can meet these needs through strong technology investments and partnerships.
• Regulatory Relief: NAFCU continues to seek regulatory relief and clear rules of the road. The association supports the NCUA as the credit union industry’s primary, independent regulator, and efforts to reform the CFPB. NAFCU will advocate against laws and regulations intended to address bad actors that place unfair burdens on credit unions, oppose frivolous litigation and restrictions that hinder credit unions’ ability to serve members, and seek exam modernization and consistency.
• Fair Market: Maintaining a level playing field among fintechs and other financial institutions is key to ensuring credit unions can compete in the market. The association is fighting for increased supervision of fintechs and non-depository financial institutions, accountability and appropriate liability related to fraud and error resolution responsibilities, and flexibility and opportunity within member business lending.
• Data Protection: NAFCU has long advocated for a comprehensive federal data privacy and security standard that recognizes existing regulatory requirements for credit unions. The association will continue to call for increased cybersecurity coordination among regulators and agencies and oppose overreach in data collection requirements.

View the summary here.

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