Sen. Rob Portman (R-Ohio) announced Monday he will not seek re-election in 2022. Portman was first elected to the senate in 2010 and served as a Representative from Ohio from 1993 to 2005. Portman serves on the Senate Finance Committee.
“Senator Portman has long been a supporter of credit unions and a friend to me dating back to our time in the House of Representatives. He supported our call for tailored regulations to ensure credit unions could continue to serve their members,” said CUNA President/CEO Jim Nussle. “We congratulate him on his decision and wish him and his family the best going forward.”
Portman cited CUNA’s comprehensive regulatory burden study in a 2016 letter to the Consumer Financial Protection Bureau calling for the bureau to appropriately tailor its regulations. He noted that credit unions were being disproportionately harmed by overly broad regulations.
He also supported legislation to allow privately insured credit unions to apply for Federal Home Loan Bank (FHLB) membership. That bill was eventually signed into law as part of a funding package by President Barack Obama.
Portman also served as director of the Office of Management and Budget under President George W. Bush from 2006 to 2007, where he was succeeded by Nussle.