The Senate’s bipartisan regulatory relief bill is a much-needed win for Main Street, Leslie Womack, president of Montana Educators CU, Missoula, Mont., wrote in a guest column in The Missoulian this week. Introduced by a bipartisan group of Senators (including Sen. Jon Tester (D-Mont.)) with 23 co-sponsors, the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) is strongly supported by CUNA.
“Provisions in this bill would ease mortgage lending and free up capital for small businesses, two essential ways to grow an economy that have suffered from both the financial crisis and the regulations put in place in response to it,” Womack wrote. “In Missoula, credit unions and small banks help our communities thrive and our small businesses grow...but these local financial institutions are facing challenges brought on by Washington bureaucrats. Now's the time to loosen the regulatory restrictions that are limiting our ability to help their communities.”
S. 2155 was passed by the Senate Banking Committee earlier this month. CUNA strongly supports the bill and has launched a nationwide grassroots support effort for the bill, which is consistent with the goals of CUNA’s Campaign for Common-Sense Regulation.
Montana’s Credit Unions President/CEO previously wrote an op-ed supporting the bill that appeared in four Montana papers.