CUNA President/CEO Jim Nussle said CUNA is pleased President Donald Trump address the need for regulatory relief in Tuesday’s State of the Union. Regulatory relief is a key pillar of CUNA’s 2018 advocacy agenda and the center of CUNA's Campaign for Common-Sense Regulation.
“The grassroots voices of our credit union members have helped put regulatory relief, and the benefits it would bring to 110 million American consumers, at the forefront of the administration's 2018 plan,” Nussle said. “The CUNA/League system are strong proponents of S. 2155, the Senate’s bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act, and we stand ready and willing to work with the administration and Congress about additional ways for community financial institutions to see a better operating environment. At the end of the day, credit unions are fighting to remove these barriers for the benefit of their members, and American consumers as a whole. Contact your member of Congress through CUNA's Campaign for Common-Sense Regulation and let them know it's time to vote for S. 2155.”
In addition to rolling out a nationwide grassroots support push for S. 2155, CUNA has backed bills that provide relief under the Home Mortgage Disclosure Act and the Consumer Financial Protection Bureau’s (CFPB) statutory exemption authority, among others.
CUNA has also engaged with the new CFPB leadership on regulatory relief it could provide, and Acting Director Mick Mulvaney released an outline for the future direction of the bureau last week, a direction that aligns with many of CUNA’s advocacy priorities