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News Now

Washington
Jenkins thanks CUs for support
WASHINGTON (2/27/09)--Rep. Lynn Jenkins (R-Kan.) thanked credit unions for their support in helping her win a seat in the U.S. House of Representatives during the closing session of the Credit Union National Association (CUNA) Governmental Affairs Conference Thursday. “I have all of you to thank for the opportunity,” she said. “Thank you for the role, and I’m looking forward to building relationships with Kansas credit unions and all of you.” Jenkins, a long-time credit union advocate, defeated Rep. Nancy Boyda (D-Kan.) in 2008 with the help of the Credit Union Legislative Action Committee (CULAC), CUNA’s federal political action committee. Like other policymakers speaking at the closing session, Jenkins noted a mortgage cramdown bill that is expected to be voted on in the House next week. “Cramdown increases lender risk and [leads to] interest rate hikes,” she said. There’s also a difference between helping lenders and lenders who knowingly sold unaffordable mortgages to borrowers, she added. “Those who made their payments on time [and made good mortgages] should not have to pay for the mistakes of lenders who made bad mortgages.”


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