NAFCU Journal November December 2021

26 THE NAFCU JOURNAL November–December 2021 Chairman Perlmutter, D-Colo. What do you hope to get done as Chairman of the House Financial Services Consumer Protection and Financial Institutions Subcommittee this Congress? Since being elected to Congress, my biggest pri- ority has been working to improve the quality of life for hardworking folks. I have kept that as my north star while serving on the House Financial Services Committee, including as part of my subcommittee chairmanship. Helping hardwork- ing folks get a hand up can mean a lot of different things, but for me, in part, it means ensuring consumer equity and opportunity in our banking system, ensuring a sound financial system that holds bad actors accountable and continues a strong foundation for economic recovery and growth and ensuring access to capital for every community and business in the recovery from the COVID-19 pandemic. How important is bipartisanship to passing legislation? Bipartisanship legislation is the result of some negotiating and some give and take, which can often help improve a piece of legislation or policy. I have good relationships with many of my col- leagues across the aisle and many bills that I spon- sor are bipartisanship in nature. The SAFE Banking Act is a good example where I have worked closely with Republicans every step of the way, including when it most recently passed the House with the support of 106 of my Republican colleagues. Credit unions are committed to bettering their communities and the people they serve. How important are credit unions to you and your constituents? Credit unions play an important role in our com- munity and every community across the United States. Credit unions are dedicated to serving their members and ensuring that every family and business has equal access to banking services. And throughout the pandemic, credit unions have gone above and beyond to help their members, and it has made a real difference. What is one thing you would want credit union leaders to know about you? I am a football fanatic. In fact, my favorite thing to do each fall is harass my congressional buddies about our favorite teams, which for me are the Denver Broncos and the CU Buffs! You’ve been a leader on the marijuana banking issue. What led you to becoming a champion on this issue? What is the outlook for anything being enacted on the issue in this Congress? As a one-time D.A.R.E. man of the year, I never thought I’d be leading the charge on a cannabis- related issue. After Colorado voters passed the measure allowing recreational marijuana use in the state, Congressman Barney Frank asked me to take the lead on aligning state and federal law to get the enormous amount of cash off the streets. In April 2021, the House passed the SAFE Banking Act for a fourth time with an overwhelmingly bipartisan vote of 321-101. Last Congress, the bill got stuck in the Senate, but I’m optimistic we can get the bill done this year. Forty Senators have signed on to the SAFE Banking Act, including nine Republicans. I believe if the Senate were to bring up the bill today, it would pass. I continue to work with Senator Merkley, Senate Banking Committee Chairman Brown and others to get this passed the finish line. Both Chairman Perlmutter and Ranking Member Luetkemeyer are proven champions of the credit union industry, and their com- mitment is further evidenced by their individual co-sponsoring of bills to provide credit unions with relief. Recently, Ranking Member Luetkemeyer introduced NAFCU-backed legislation to reform the CFPB’s governance. The association has long advocated that the bureau’s leadership structure should be reformed to a commission-based model and has also offered support for bringing it under congressional appropriations oversight. Additionally, earlier this year, Chairman Perlmutter again intro- duced NAFCU-sought legislation that would improve existing language in the Federal Credit Union Act related to expulsion in order to protect credit unions, members and employees. NAFCU reviewed congressional priorities, bipartisanship and more with the two Congressmen for a Q&A.