The Wisconsin Credit Union League followed up its letter to Speaker of the House Paul Ryan (R-Wis.) with letters to the entire state’s congressional delegation, urging them to support the Economic Growth, Regulatory Relief and Consumer Protection Act. The letters were sent in conjunction with the Wisconsin Bankers Association in support of the bill, which passed the Senate in March.
The letters were sent to Reps. Sean Duffy (R), Mark Pocan (D), Glenn Grothman (R), Mike Gallagher (R), Gwen Moore (D), Ron Kind (D) and Jim Sensenbrenner (R), in addition to Ryan. Wisconsin Credit Union League President Brett Thompson and Wisconsin Bankers Association President Rose Oswald Poels co-signed the letters.
“The unwarranted growth of federal regulations on Wisconsin community financial institutions both negatively impacts their ability to serve consumers and contributes toward the consolidation of our industries, as compliance is costly and burdensome. The commonsense reforms in S. 2155 provide relief, to allow our institutions to focus on serving consumers, rather than on meeting arbitrary measures of regulatory compliance,” the letters reads. “In improving financial institutions’ ability to serve consumers, S. 2155 is an investment in Wisconsin, contributing to economic growth and job creation. Regulatory relief for Wisconsin’s institutions will revitalize lending and investment in hundreds of local economies across the state.”
The letters also emphasize the strong bipartisan support of the bill in the Senate, the provisions in the bill that mirror the House-passed Financial CHOICE Act and the ways the bill would provide relief to financial institutions and the consumers they serve.