DCUC Statement, Ranking Member Waters Reintroduces H.R. 9767, the “Promoting and Advancing Communities of Color Through Inclusive Lending Act”

​WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) issues the following statement regarding the reintroduction of legislation by Ranking Member Waters (D-CA) aimed at promoting racial equity in lending, in honor of the 30th anniversary of the Community Development Financial Institutions (CDFI) Fund.

“DCUC expresses its support for the objectives of this legislation, particularly in enhancing support for Community Development Financial Institutions (CDFIs). We appreciate Ranking Member Waters’ dedication to this important cause. However, we are concerned about the additional reporting requirements this legislation may impose on credit unions. We look forward to collaborating with Ranking Member Waters to further her goals of advancing racial equity in lending while ensuring that the reporting obligations remain manageable, especially for the many smaller credit unions that serve minority communities.”

​For more information on DCUC’s advocacy, please visit dcuc.org/advocacy and contact Jason Stverak, DCUC Chief Advocacy Officer at [email protected].