WASHINGTON (12/17/14)--The Credit Union National Association plans to aggressively pursue regulatory relief legislation in the 114th Congress, after having end-of-year success with the passage of two bills.
Ryan Donovan, CUNA senior vice president for legislative affairs, said in a News Now interview that CUNA plans to meet the 114th Congress with a list of regulatory relief proposals.
The House passed the Regulation D Study Act (H.R. 3240) Dec. 3, with the bill's chief sponsor Rep. Robert Pittenger (R-N.C.) citing CUNA's support when introducing it before a vote. While the Senate has not taken up the bill, Donovan has said the bill lays the groundwork for the study, which is possible due to the bill passing the House 422-0.
The Credit Union Share Insurance Parity Act was passed by the Senate last week, and CUNA has sent a letter to President Barack Obama urging him to sign the bill into law.
"These measures, the fact that we got them through Congress, gives us some momentum going into next year," Donovan said. "We're looking forward to advancing more regulatory relief measures in the next Congress so that we can remove barriers that keep credit unions from serving their members."
CUNA presented nearly three dozen proposals to the Senate Banking Committee and the House Financial Services Committee at the start of the 113th Congress, and Donovan said CUNA plans to bring "a more ambitious" regulatory relief agenda.
Areas where CUNA saw success this year include: