CUNA President/CEO Jim Nussle and Chief Advocacy Officer Ryan Donovan met with Rep. Jeb Hensarling (R-Texas), chair of the House Financial Services Committee Tuesday. The topic of discussion was regulatory relief possibilities for credit unions in the 115th Congress, which includes Hensarling’s bill, the Financial CHOICE Act.
“We discussed the many provisions credit unions support in the CHOICE Act. We also discussed provisions that cause us concern and areas where we think the bill could go even further, like clarifying the CFPB's exemption authority and fixing the problems presented by the Bureau's broad Unfair, Deceptive, Abusive Actions and Practices (UDAAP) authority,” Nussle said. “It was a very productive meeting, and will be followed today by a meeting between Chairman Hensarling and the Cornerstone Credit Union League. We appreciate the chairman asking us to visit with him and we look forward to working with him on this legislation.”
CUNA and the state credit union leagues are launching a multilayered advocacy campaign designed to activate credit union members nationwide to get involved in the advocacy fight in the 115th Congress.