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News Now

Washington
CUs positioned well for 2009 Congress says Magill
WASHINGTON (11/6/08)—Legislative experts at the Credit Union National Association (CUNA) said Wednesday that credit unions can feel good about how they are positioned politically going into the next session of Congress. “Going into the 2008 federal elections, credit unions have been seen by lawmakers and government officials as being part of the solution to the country’s economic woes, not part of the problem that created the mortgage and credit crisis,” said John Magill Wednesday. Magill is CUNA senior vice president of legislative affairs. “I feel very good about where we are positioned going into the 111th Congress in January.” Magill said that perhaps the biggest political challenge credit unions face from the beginning is the overwhelming nature of the economic problems that must be dealt with. “We will have to make enough noise to keep credit union issues on the front burner. We will have to be vigilant to make sure we are dealt with uniquely and not painted with the same brush as the bad actors,” he said. “The new Congress is already talking about regulation rather than deregulation. So we will have to make sure our new friends in Congress don’t kill us with kindness with regulatory efforts,” Magill added.


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