Shelby, Miller recognized as LSCU lawmakers of the year
BIRMINGHAM, Ala. and TALLAHASSEE, Fla. (3/13/15)--The League of Southeastern Credit Unions honored Sen. Richard Shelby (R-Ala.) and Rep. Jeff Miller (R-Fla.) as its 2014 Lawmakers of the Year.
Shelby was presented the award during the credit union Capitol Hill visits Wednesday as part of CUNA's Governmental Affairs Conference in Washington, D.C.
"Sen. Shelby and Rep. Miller have each proven to be understanding of the issues facing credit unions," said LSCU President/CEO Patrick La Pine. "Rep. Miller is sponsoring legislation to exempt business loans to veterans from credit unions from the member business lending cap; while Sen. Shelby sent a letter of concern to the (National Credit Union Administration) about the risk-based capital proposal. These actions alone show credit unions that each has an eye on their issues."
Shelby, chair of the Senate Banking Committee, has long supported reducing the regulatory burden on credit unions. In February, he held a hearing on regulatory reform and invited a credit union representative to testify.
In 2014, he wrote a letter to NCUA Chair Debbie Matz addressing concerns he had on the new risk-based capital (RBC) proposal. In the letter, Shelby supported credit unions in their efforts to change the first proposed RBC rule.
Miller, chair of the House Committee on Veterans Affairs, introduced legislation that would exempt member business loans made to veterans from the member business lending (MBL) cap. He re-introduced the bill in 2015. Miller was also one of the first to sign the King-Meeks letter to the NCUA concerning the RBC proposal.
He also supports raising the MBL cap and credit union efforts to access more sources of capital.