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The Hill cites TAG defeat as major victory

The Hill newspaper, a widely read publication in Washington, D.C. and throughout political circles, recently published its list of the top 10 lobbying victories of the year. The publication chose credit unions’ successful campaign to defeat the banks’ transaction account guarantee (TAG) extension bill as the sixth best lobbying victory of 2012. The LSCU thanks all of the credit union CEOs, executives, staff and volunteers who sent a message to their senators asking them to not support extending TAG.

The National Hike the Hill in November also played a big part in getting this legislation defeated. Credit unions' work to defeat the TAG bill commanded attention in Washington and it puts pressure on the banks to accept a member business lending (MBL) bill as part of a legislative package. 

The League and CUNA continue to explore every opportunity during the Lame Duck session of Congress to move an MBL bill forward, while also ensuring that TAG remains latent or is paired with MBLs.

CUNA continues to ask President Obama to sign the bill that will eliminate the duplicative ATM fee sticker requirement that has given rise to so many nuisance lawsuits against credit unions. The president is expected to sign the ATM bill into law. For questions about these bills or the lobbying efforts of the League, contact LSCU VP, Governmental Affairs Jared Ross at 866.231.0545 ext. 1012.