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U.S. Treasury meets with NAFCU to hear credit unions’ regulatory concerns

NAFCU_logo_editedU.S. Treasury Secretary Jack Lew met with representatives of the National Association of Federal Credit Union, Treasury Assistant Secretary for Financial Institutions Cyrus Amir-Mokri and other staff to address credit union concerns about mortgage regulations.

“We appreciate the opportunity to meet with Treasury on issues of concern to credit unions,” Carrie Hunt, NAFCU’s general counsel and vice president of regulatory affairs, said. “We especially thank Secretary Lew for taking a few minutes from his schedule to hear about credit unions’ concerns.”

NAFCU meeting participants included President and CEO Fred Becker; Dan Berger, the executive vice president of government affairs; Hunt; and Tessema Tefferi, NAFCU’s senior regulatory affairs counsel.

The meeting centered around the state of the credit union industry, regulatory capital reform, the regulatory burden under the CFPB’s ability-to-repay/qualified mortgage rule and housing finance reform.

Other participants included Katheryn Rosen, the Treasury’s deputy assistant secretary for financial institutions policy; Benson Roberts, the director of small business at the Treasury; and Edward Lance Williams, the Treasury’s special assistant for business affairs and public liaison.

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