news.cuna.org/articles/111608-cuna-statement-on-draft-senate-banking-bill-on-regulatory-relief

CUNA Statement on Draft Senate Banking Bill on Regulatory Relief

May 12, 2015

FOR IMMEDIATE RELEASE

Contact: Vicki Christner – CUNA Communications; 202-508-6754; vchristner@cuna.coop

Washington, D.C. (May 12, 2015) – Credit Union National Association (CUNA) President and CEO Jim Nussle released the following statement following Senate Banking Committee Chairman Richard Shelby’s release of draft legislation on regulatory relief: 

“Over a dozen Title I provisions within Chairman Shelby’s draft legislation align with regulatory relief changes that CUNA has long advocated for on behalf of our members. CUNA has repeatedly called on Congress to provide regulatory relief, and I thank Chairman Shelby and his staff for the many provisions that will benefit credit unions and their members. 

“The draft bill includes three credit union specific provisions that will provide budget transparency for the National Credit Union Administration, allow privately insured credit unions to become members of a Federal Home Loan Bank (FHLB) and grant parity for all credit unions with under $1 billion in assets to join the FHLB system. These commonsense provisions have wide bipartisan support, and I urge Congress to work together to advance these important provisions. CUNA will continue to explore ways Congress can provide additional regulatory relief for credit unions as part of this legislative process.” 

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About CUNA: 
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter. Visit the CUNA Press Room for a full listing of media mentions, press releases and resources to stay informed on current events within the credit union industry.