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NAFCU, House Majority Whip Emmer meet to discuss CU industry
NAFCU President and CEO Dan Berger Tuesday met with House Majority Whip Rep. Tom Emmer, R-Minn., to discuss ways to assist credit unions and their 135 million members. In addition, Berger offered support for Emmer’s bill to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC).
NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Legislative Affairs Brad Thaler, and Senior Associate Director of Legislative Affairs Lewis Plush were also in attendance.
While NAFCU is supportive of a clear regulatory framework for cryptocurrency and other financial technologies, the association has consistently opposed the creation of a CBDC. NAFCU has argued that the costs outweigh the benefits and that credit unions represent a superior and safer alternative for advancing financial inclusion goals and promoting affordable access to payments. The association has shared its concerns with the Fed, Treasury, Commerce Department, and Congress.
Of note, Emmer was awarded the NAFCU Credit Union Champion award last year in recognition of his leadership and dedication supporting important credit union industry issues. NAFCU continues to work with Emmer and other lawmakers to ensure credit union priorities remain top of mind for Congress.