Sen. Toomey will not seek re-election in 2022

October 5, 2020

Sen. Pat Toomey (R-Pa.) announced Monday he will not seek re-election in 2022. Toomey, a member of the Senate Banking Committee, has served in the Senate since 2011, and represented Pennsylvania’s 15th Congressional District from 1999 to 2005.

CUNA President/CEO Jim Nussle, who served several terms in Congress alongside Toomey in the House Budget Committee, thanked Toomey for his advocacy on behalf of credit unions.

“Sen. Toomey is a longtime champion of credit unions, and a friend of mine dating back to our time together in the House Budget Committee. He consistently worked to reduce regulatory burden so that credit unions can expand access to safe and affordable products and services. This includes support for examination and privacy notice modernization and earlier this year calling for easier access to the Paycheck Protection Program for borrowers and lenders. We congratulate Sen. Toomey on his decision and wish him and his family the best going forward.”

Toomey currently chairs the Senate Banking subcommittee on securities, insurance, and investment.

He has sponsored legislation that would raise the Consumer Financial Protection Bureau examination threshold to $50 billion (up from the current $10 billion), and supported privacy notice modernizations that were signed into law at the end of 2015.