California and Nevada credit union leaders concluded their three-day Hike The Hill on Thursday, meeting face-to-face with members of U.S. Congress and federal regulators, and advocating for policies that protect their members.

Hosted by California’s Credit Unions, Nevada’s Credit Unions and America’s Credit Unions, the industry’s late summer fly-in represents the interests of more than 14.4 million credit union members from California and over 400,000 in Nevada, educating lawmakers and regulators on how policy decisions impact local members.

“I am incredibly grateful to every credit union CEO and advocate from California and Nevada who took time away from their busy schedules to be in our nation’s capitol this week,” said Scott Simpson, president and CEO of California’s Credit Unions and Nevada’s Credit Unions. “Their commitment to our cooperative model and willingness to make their voices heard on behalf of their members is what makes our movement so powerful.”

Hike The Hill kicked off with a dinner and briefing on Tuesday, where attendees prepared for a series of high-level meetings. The following day, leaders visited congressional offices on Capitol Hill, urging members of Congress to co-sponsor and support league-supported bills.

CU Voices Heard in Congressional Offices

On Wednesday, strengthening consumer protections and reducing regulatory burdens were in focus the entire week. Some notable California members of Congress whom credit union leaders had to opportunity to visit included House Financial Services Committee members and Reps. Young Kim (R-CA) and Brad Sherman (D-CA), as well as long-time advocate and champion Pete Aguilar (D-CA).

From Nevada, credit unions were proud to sit down with Rep. Mark Amodei (R-NV), another credit union champion, and Sen. Jacky Rosen (D-NV), as well as other policy aides across Capitol Hill.

These members of Congress were in good company, as many congressional offices representing California and Nevada took the time to discuss credit union priorities.

“We want to thank every congressional office and member of Congress who was able to discuss the issues relevant to their local constituents and credit union members across both states,” said Stephanie Cuevas, senior vice president of federal advocacy for the California and Nevada leagues. “We are grateful for their leadership, especially those who stood up for our credit union tax status earlier this year, and those who have committed to be leaders on credit union priorities going forward.”

During meetings, legislative and policy issues included:

• Fraud prevention. Participants urged co-sponsorship of the Taskforce for Recognizing and Averting Payment Scams (TRAPS) Act (H.R. 4936 / S. 2019). Leaders highlighted the alarming rise in fraud losses, with consumers losing more than $12.5 billion in 2024. In California and Nevada combined, fraud losses have been estimated reaching in the billions of dollars. It was emphasized that every dollar lost to fraud at a member-owned credit union is a dollar lost from the cooperative itself.
• Regulatory relief. Discussions also centered on the Financial Reporting Threshold Modernization Act (H.R. 1799), which would raise the Currency Transaction Report (CTR) threshold from $10,000 to $30,000. Credit union leaders focused on their members’ experience and how CTR filings can delay member support services. Leaders explained that the original threshold was set in 1972 and would be over $75,000 today if indexed for inflation. Adjusting this limit would significantly reduce the reporting burden on credit unions, allowing them to focus more resources on serving members.
• Support for veterans. Credit union representatives advocated for the Veterans Member Business Loan Act (H.R. 507 / S. 110). This bill would exempt loans to veteran-owned businesses from the credit union’s member business loan cap, which is currently limited to 12.25 percent of a credit union’s assets. This change would ensure credit unions can fully support veteran entrepreneurs without facing statutory restrictions.
• Increased lending flexibility. The Expanding Access to Lending Options Act (H.R. 4167) was also a key talking point. The bill would extend the loan maturity for federal credit union business loans from 15 to 20 years and extend loan maturities for certain multi-family housing units to 30 years. These reforms would result in lower payments for borrowers and help address housing challenges in high-cost areas.
• A debanking executive order. Leaders raised awareness of the “Guaranteeing Fair Banking for All Americans” Executive Order signed by President Trump on August 7, 2025. They noted that financial institutions have been directed to review policies that may have led to “politicized debanking” and must submit compliance reports to the Small Business Administration (SBA) by January 5, 2026. Credit union leaders sought guidance on how the order aligns with existing obligations like the Bank Secrecy Act (BSA) and expressed concern about potential unintended consequences.
• Stablecoins and the GENIUS Act. The delegation also discussed the new GENIUS Act, signed into law in July, which creates a federal framework for stablecoin issuance. Leaders highlighted the potential of stablecoin to transform payments and noted that while banks can issue them, credit unions cannot without a third-party partner. They emphasized the need for regulatory clarity and consumer protection parity to ensure the evolving payments landscape does not undermine traditional financial systems.

Successful Meetings with Federal Regulators

On Thursday, the conversation shifted its focus to discussions with federal regulators at the Thompson Washington D.C. by Hyatt. These meetings provided an opportunity to discuss the unique challenges faced by credit unions and their members, including:

• The Federal Housing Finance Agency (FHFA) and Federal Home Loan Bank (FHLB). Leaders met with Joshua Stallings and Tiffani Moore to discuss the critical role the FHLBank of San Francisco plays as a source of liquidity, noting that credit unions represent 48 percent of its membership.
• The Treasury Department. In a meeting with Matthew Rosenthal, senior advisor to the assistant secretary for financial institutions at the Treasury Department, credit union leaders raised concerns that current Community Development Financial Institution (CDFI) criteria penalize institutions in high-cost housing markets. They also discussed implementation challenges for the new “No Tax on Car Loan Interest” provision, advocating for a clear electronic model form and a “safe harbor” to protect institutions.
• The Office of Management and Budget (OMB): Credit union advocates were granted a special meeting at the White House with Mark Calabria, associate director for treasury, housing and commerce at OMB. The discussion centered on the cost of “regulatory whiplash,” or the frequent changes in regulatory guidance with new administrations. They urged the OMB to encourage agencies to issue performance-based regulations that focus on desired outcomes rather than one-size-fits-all mandates, which disproportionately affect smaller credit unions.

“We elevated credit union voices by meeting top regulators and even securing a White House briefing to press our case on regulatory relief,” said Lisa Quaranta, vice president of regulatory advocacy for the California and Nevada leagues. “These meetings are vital to advancing the credit union voice in the executive branch.”

The week concluded with a reception, celebrating the efforts of credit union leaders in serving their communities and making an impact for their members.

“Hike The Hill serves a unique purpose: to help the voices of credit union leaders be heard on Capitol Hill,” said Stephen Nelson, executive vice president and chief advocacy operations officer for the California and Nevada leagues. “Our meetings with legislators, aides, and regulators are important for shaping policy that allows credit unions to continue providing the best possible service and financial opportunities to their members. Thank you once again to everyone who supported our efforts and flew in.”