CUNA engaged w/ S. 2155 developments, CDD rule hearing

May 14, 2018

CUNA will be engaged in several hearings on Capitol Hill this week, and is continuing its advocacy for the Economic Growth, Regulatory Relief and Consumer Protect Act (S. 2155) as the House moves closer to consideration of the bill. Speaker of the House Paul Ryan (R-Wis.) said last week the House would consider S. 2155, and CUNA President/CEO Jim Nussle is urging credit unions to contact their representatives as the House looks to consider the bill.

“We’re very supportive of this legislation, it will do a great deal to reduce the regulatory burden on credit unions to help them serve their members more effectively and more efficiently. It’s a common-sense approach to regulation and we’re hopeful the House will pass this legislation and send it to the president for his signature so we can get to work on even more ways that Congress, the CFPB and NCUA can reduce regulatory burdens.”

Nussle and Donovan met with a group of conservative-leaning Democrats last week to discuss S. 2155.

Stakeholders can contact their members of Congress through CUNA’s Campaign for Common-Sense Regulation website.

Other activities CUNA is engaged with this week includes:

  • Tuesday, 3:30 p.m. (ET): Senate Small Business Committee hearing, “The State of Small Business in America: An Update from the U.S. Small Business Administration;”
  • Wednesday, 2 p.m. (ET): House Financial Services subcommittee on terrorism and illicit finance hearing, “Implementation of FinCEN’s Customer Due Diligence Rule;”
  • Wednesday, 10 a.m. (ET): House Ways and Means Committee hearing, “Series on Tax Reform: Growing Our Economy and Creating Jobs;”
  • Wednesday, 10 a.m. (ET): Senate Judiciary Committee hearing, “Cambridge Analytica and the Future of Data Privacy;”
  • Thursday, 10 a.m. (ET): House Committee on Education and the Workforce hearing, “Protecting Privacy, Promoting Data Security: Exploring How Schools Keep Data Safe.”