Statement by Senator Cramer on the National Credit Union Administration’s Strategic Plan

BISMARCK — U.S. Senator Kevin Cramer (R-ND), a member of the Senate Banking Committee, issued the following statement in response to the National Credit Union Administration (NCUA) final Strategic plan:

“Yesterday the National Credit Union Administration finalized the strategic plan and unfortunately the concerns of farmers and ranchers fell on deaf ears. The wording will inevitably discourage credit unions from lending to producers on the pretext of “climate-related financial risks”. This is exactly what the Biden administration is doing. What they can’t do in law or through regulation, they use memoranda and advice. All of this has the same cooling effect. This radical program should be removed from the root.

Context:

In January, Senator Cramer voted against renominating NCUA Board Chairman Todd Harper to a full term on the NCUA Board of Directors on the Senate Banking Committee due to concerns about the draft strategic plan.

In February, Senator Cramer joined Sen. John Hoeven (R-ND) on a bicameral letter urging the NCUA to continue supporting agricultural producers’ access to credit. In a letter to NCUA President Todd Harper, members questioned language included in the NCUA’s draft strategic plan that could lead to regulatory discrimination against credit unions that lend to farmers , pastoralists and agribusinesses in the name of tackling “climate-related financial risks”. .”
Senator Cramer has been a leader in discussing the overlap between banking and climate. As part of his lecture series called “The Bully Pulpit,” the senator hosted bank CEOs in North Dakota to discuss it. In September, he hosted Goldman Sachs CEO David Solomon will participate in a town hall with North Dakota energy producers, and in November he hosted Bank of America CEO for a town hall on climate solutions.


Source link

Comments are closed.