MADISON, Wis.—Representatives from the European Network of Credit Unions (ENCU) recently gathered in Brussels to meet with key European Union officials and newly elected members of the European Parliament (MEPs) to advocate for credit union interests. A primary focus of their discussions was securing an exemption for credit unions from the European Commission’s Regulation on Financial Data Access (FiDA), which aims to streamline access to customer data across various financial services.
The delegation, led by Erin O’Hern, WOCCU’s International Advocacy and Regulatory Counsel, emphasized the necessity of this exemption in order to prevent burdensome regulatory measures for credit unions. As the European Parliament continues to review the draft report, ENCU representatives aimed to engage with critical stakeholders to highlight the unique challenges posed by the regulation.
ENCU also met with influential figures such as Anne Marie McKiernan from the Central Bank of Ireland and Boris Kisselevsky, Head of the European Central Bank Representation in Brussels, to discuss implications surrounding the digital euro. Additionally, ENCU attended the European Payment Institutions Federation’s (EPIF) annual conference, where key topics such as EU payment services legislation, open finance, and the new EU Anti-Money Laundering Authority were discussed.
Representatives from the Irish League of Credit Unions, National Association of Co-operative Savings and Credit Unions of Poland, Federation of Romanian Credit Unions, Estonian Union of Credit Cooperatives, North Macedonia’s FULM Savings House, and the Croatian Association of Credit Unions participated in the meetings.
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