CUNA has decided to temporarily suspend all campaign contributions. Its Political Action Committee is one of the largest contributers to the members of Congress objecting to counting Electoral College votes from Arizona and Pennsylvania.
Rep. Ben McAdams (D-Utah), a freshman member of the House Financial Services Committee, on Monday conceded defeat to former National Football League player, Republican Burgess Owens, in their tight race for Congress. Owens received 47.5% of the vote, according to election results tabulated by state officials, while McAdams received 46.93% of the vote. The two national credit union trade groups had supported McAdams, with CUNA’s political action committee donating $10,000 to his campaign and NAFCU contributing $1,000. The race garnered national attention since Owens was an outspoken supporter of President Trump’s reelection effort. Last month, McAdams opposed the latest version
If Joe Biden wins the election, he can be expected to replace the CFPB Director quickly and that new director is likely to restore the strict payday lending rule that was adopted during the Obama Administration, according to CUNA Chief Advocacy Officer Ryan Donovan. Donovan gave credit unions a heads up on what may happen next year.
A summary of Senate and House race results from the perspective of credit union lobbyists.
The Credit Union National Association and the National Association of Federally-Insured Credit Unions have been active in congressional races this year, supporting candidates they believe are credit union-friendly. Here are some of the most important races to watch.
CUNA announced Thursday that it will be sending out direct mail and creating digital advertising on behalf of the reelection efforts of three House members—two Democrats and one Republican.
CUNA already said it is making independent expenditures on behalf of four other House members, as well as four senators.
The Credit Union National Association will be spending money independently to support the campaigns of House members: Rep. Don Bacon (R-Neb.), Rep, Rodney Davis (R-Ill.), Rep. Andy Kim (D-N.J.), and Rep. Xochitl Torres Small (D-N.M.).
CUNA is supporting two Republican Senators, Susan Collins and Steve Daines, and two Democratic Senators, Gary Peters and Tina Smith, by independently funding direct mail and digital ads.
Encouraging bankers to create a “money bomb” of at least $300,000 for each candidate, the “Friends of Traditional Banking” Super Political Action Committee has endorsed three endangered Republican senators for reelection.
Friends of Traditional Bankers endorsed Republican Sens. Joni Ernst of Iowa, Thom Tillis of North Carolina, and Cory Gardner of Colorado.
The coronavirus pandemic has slowed down much of Washington. The halls of the Capitol appear empty. Charlie Palmer Steak, a restaurant that usually serves power lunches to the well-connected, is temporarily shuttered. Lobbyists are meeting on Zoom and other similar platforms. But the political fundraising machine grinds on. The political action committees operated by the nation’s two largest credit union trade groups, the Credit Union National Association and the National Association of Federally Insured Credit Unions, continue to fuel that machine with millions of dollars in campaign contributions to House and Senate candidates across the country. By the end of