WASHINGTON (7/28/15)--When credit union board members and managers make decisions about services to provide members--rather than bureaucrats--member-owners of credit unions benefit. That’s the message CUNA is sending today to the House Financial Services Committee before it marks up a number of regulatory relief bills, including four that CUNA supports.
CUNA President/CEO Jim Nussle told committee chair Rep. Jeb Hensarling (R-Texas) and ranking member Maxine Waters (D-Calif.) that four CUNA-supported bills under consideration all take "small steps in the right direction” toward removing barriers keeping credit unions from more fully serving their members.
In the letter to committee leadership, Nussle expressed CUNA’s support for the following bills:
H.R. 3192 was introduced late last week, and CUNA signed a letter of support for the bill Monday. CUNA and the other organizations praised the legislation for allowing more time to give the mortgage industry certainty with the new rule.
Today’s markup is scheduled to begin at 2 p.m. (ET).
The Senate will also consider the DRIVE Act, which contains an extension of Fannie Mae and Freddie Mac guarantee fees until 2025, which has led to a number of concerns from CUNA.
CUNA will also be monitoring a number of hearings throughout this week, including: