The Hill, a congressional newspaper that focuses on lobbying, among other Washington activities, has listed credit unions’ organized defeat of the bankers’ TAG legislation as one of the “Top 10 Lobbying Victories of This Year”. 

Calling credit unions’ victory a “signature triumph”, the opposition to the extension of the Transaction Account Guarantee (TAG) program appeared as #6 on the list. This is one more example of your membership at work!

 The segment below was taken directly from “The Hill”.

#6. Credit Union National Association, National Association of Federal Credit Unions

Credit unions were able to notch a victory over community banks this year in opposing the extension of the Transaction Account Guarantee (TAG) program.

Created during the 2008 banking crisis and set to expire this year, the TAG program provides guarantees to certain non-interest-bearing bank accounts.

Credit unions lobbied hard against a standalone TAG extension, and demanded that it be paired with expanded lending capacity for credit unions. The failure to move a TAG bill through the Senate likely ends it chances this year, but credit union lobbyists are keeping their eyes peeled.

To see the entire Hill article, click here.