The Michigan Credit Union League (MCUL) joined with its state banking associations this week to call on members of its congressional delegation to support the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act. The bill passed the Senate in March, and is strongly supported by CUNA.
“The bipartisan regulatory relief found in S.2155 is desperately needed by Michigan’s community-based financial institutions and we strongly urge the House to pass this legislation,” said Ken Ross, MCUL president/COO.
MCUL joined with the Community Bankers of Michigan and the Michigan Bankers Association to urge the House to pass the bill so that Michigan’s 356 financial institutions can focus on “serving consumers rather than on meeting arbitrary measures of regulatory compliance.”
The letter also note’s the bill’s provisions that would provide relief related to Qualified Mortgages, Home Mortgage Disclosure Act reporting and elder abuse.