Romero Rainey: ICBA campaigns targeting credit union policies

With credit union executives in Washington this week for advocacy meetings, ICBA launched several campaigns to raise questions about credit union policies among lawmakers, ICBA President and CEO Rebeca Romero Rainey announced.

ICBA Efforts: In a message to community bankers, Romero Rainey spotlighted ICBA’s:

• New targeted ads and website making clear to consumers that “Something’s Wrong” with credit union policy.

• Ad campaign directing congressional offices to questions they should ask credit union executives in town this week for the National Association of Federally-Insured Credit Unions' annual fly-in.

• Meeting this week with FDIC Vice Chairman Travis Hill to discuss the surge in credit union acquisitions of taxpaying community banks.

• Be Heard grassroots campaign and additional custom resources on the ICBA website.

• Freedom of Information Act request seeking information from the National Credit Union Administration on Rakuten Inc.’s credit union charter application.

• Renewed call for Congress to act on the surge in credit union bank acquisitions.

Outlook: “Thank you, community bankers, for all your efforts to address misguided credit union policies,” Romero Rainey wrote. “Only by constant diligence and active outreach can we ensure Washington wakes up to the credit union problem, recognizes that something is wrong, and ensures taxpayer funds aren’t used to underwrite financial services consolidation.” Read more.