The Senate’s bipartisan regulatory relief bill is a chance to walk back many of the one-size-fits-all regulations coming in the wake of Dodd-Frank, CUNA President/CEO Jim Nussle said on CNBC’s Squawk Box Monday morning. Nussle spoke with host Becky Quick about the bill, what it does and what it doesn’t do.
“This is actually Republicans and Democrats coming together; it’s not one of those faux-bipartisan [bills] where you get one Democrat or one Republican,” Nussle said. “This is actually a group of lawmakers, particularly in the Senate, who sat down and crafted the first chance to reform Dodd-Frank since it passed.”
The Senate is expected to resume consideration of S. 2155 Monday. CUNA strongly supports the bill, and continues to engage in aggressive grassroots advocacy as the Senate moves closer to a vote.
During Nussle’s interview, he also discussed the meeting with President Donald Trump, along with several credit union CEOs, during CUNA’s Governmental Affairs conference last month.
“We had a chance to talk to him about many challenges we face as smaller institutions. We presented him a study about how much these regulations have cost small credit unions over the last decade,” Nussle said, adding that he shared CUNA’s regulatory burden study with Trump and his advisers.