Anne Cochran, CEO of the Louisiana Credit Union League, touted the benefits of the bipartisan Economic Growth bill in an op-ed piece published in several papers in the Southeastern U.S.
“The common-sense fixes in S. 2155, the bipartisan Economic Growth bill, would be a boon for Louisiana small businesses while retaining tough protections for consumers from Wall Street,” Cochran wrote.
Cochran noted that the bill eases mortgage lending and frees capital for small businesses, “both which are key to the health of an economy that has suffered from both a financial crisis and the regulations put in place in response to it.
“By granting credit unions parity with banks on certain types of apartment loans, $4 billion in capital will become available to Louisiana’s small institutions to expand operations, hire additional staff and invest in their communities,” Cochran wrote “Imagine what Louisiana’s small businesses can do with access to extra capital.”
The bill also provides much needed regulatory relief for credit unions, Cochran wrote. “Adjusted reporting thresholds for credit unions and small financial institutions means less time and resources tied up in reporting data and more time and resources for member service and consumer-friendly products and services,” she wrote.
“Washington doesn’t seem to agree on much, but the fact that over twenty Senators from both sides have signed onto this bill show that regulatory relief isn’t a Democrat vs. Republican issue, it’s a small business vs. Wall Street issue,” she wrote.
Among the papers the piece was published in were the Washington County News, the Daily Comet, The Star, Tuscaloosa News and the Apalachicola & Carabelle Times.
“I applaud Anne for conveying the importance of S. 2155, the Senate Economic Relief bill, through earned media,” said CUNA President/CEO Jim Nussle. “This legislation would offer mortgage lending relief and additional capital to small businesses to help consumers and communities. I urge you to consider writing a letter to the editor or an opinion piece in your local paper in support of the bipartisan bill that finally puts Main Street ahead of Wall Street."