WASHINGTON (12/3/15)--CUNA wrote to U.S. House leadership Wednesday in support of the Highway Conference Report (H.R. 22), which contains a number of regulatory relief provisions.
A congressional conference committee reported its version of H.R. 22 this week, and the House is expected to vote on it first, followed by the Senate this week.
“Passage of the Conference Report for H.R. 22 will not only improve the transportation infrastructure of the country, but will also provide needed regulatory relief for credit unions, which in turn, will allow them to continue to provide safe and affordable financial service products to consumers,” wrote CUNA President/CEO Jim Nussle in the letter, which was addressed to Speaker of the House Paul Ryan (R-Wis.) and House Minority Leader Nancy Pelosi (D-Calif.).
The bipartisan piece of legislation contains three regulatory relief provisions:
While the three sections were added to H.R. 22 in recent weeks, each represents a bill CUNA has supported since its introduction in the 114tth Congress.
Section 75001 is based on H.R. 601, which was introduced by Reps. Blaine Luetkemeyer (R-Mo.) and Brad Sherman (D-Calif.) in January; Section 82001 is based on H.R. 299, introduced in January by Reps. Steve Stivers (R-Ohio), Joyce Beatty (D-Ohio), Pat Tiberi (R-Ohio) and Andre Carson (D-Ind.); and Section 89001 is based on H.R. 1259, introduced in March by Reps. Andy Barr (R-Ky.) and Ruben Hinojosa (D-Texas).
All three bills were passed by the House Financial Services Committee in March and by the full House in April.
Provisions based on all three were also included in the regulatory relief package introduced by Sen. Richard Shelby (R-Ala.) earlier this year. The package has been attached to the Financial Services and General Government Appropriations Bill that will be voted on before Dec. 11.