CUNA wrote in support of 3 pieces of regulatory relief legislation Thursday, bills that were among 6 discussed in a House Financial Services subcommittee hearing. The letter, sent to subcommittee Chair Rep. Blaine Luetkemeyer (R-Mo.) and ranking member Lacy Clay (D-Mo.), was sent for the record of the hearing.
“Overregulation of small or less complex institutions is hurting consumers, costing them time and money, and limiting their choices. Local member-owned credit unions know their members better than Washington bureaucrats, which is why now is the time for Congress to enact regulatory reform that works for credit union members,” CUNA’s letter reads. “To that end, we appreciate that the subcommittee is considering several bills today that provide regulatory relief, which would allow credit unions to more fully serve their members with safe and affordable products and services.”
The specific bills CUNA supports are:
Additional details can be found on CUNA’s Removing Barriers Blog.