ACU’s Simpson Presses Tax, Deposit Insurance Issues in Meetings With Top Lawmakers
By CU Today Staff —
WASHINGTON—As part of ongoing efforts to keep credit union priorities front and center on Capitol Hill, America’s Credit Unions President and CEO Scott Simpson joined the association’s advocacy team in a series of meetings Wednesday with key lawmakers to discuss issues important to credit unions and their members.
Simpson met with Sen. Angela Alsobrooks (D-MD), House Financial Services Committee Chairman French Hill (R-AK), and House Ways and Means Committee Chairman Jason Smith (R-MO). Alsobrooks introduced a bipartisan bill to expand deposit insurance coverage for non-interest-bearing transaction accounts, and Simpson discussed the importance of parity for credit unions in that and other potential deposit insurance reform policies, ACU said.
Scott Simpson with Angela Alsobrooks.
The House Financial Services Committee recently cleared several credit union-supported bills aimed at combating fraud and advancing artificial intelligence. America’s Credit Unions thanked Hill and the committee for its work on the subject, and shared how the organization can work alongside the committee on regulatory relief and modernization efforts.
The meeting with Smith occurred as discussions are taking place on potential additional budget reconciliation bills, which falls under the purview of the Ways and Means Committee. Simpson shared the importance of the tax status to credit unions serving Missouri communities and how credit unions stand ready to service Trump Accounts, helping members build wealth for their children, ACU noted.
Originally reported by CU Today.