The Wisconsin Credit Union League commends Senator Tammy Baldwin for her leadership in introducing the Business of Insurance Regulatory Reform Act.
The bipartisan bill would clarify the exemption of the business of insurance from the Consumer Financial Protection Bureau’s (CFPB’s) authority.
The Wisconsin insurance regulatory system is strong and effective in protecting consumers, including regulating credit unions when they sell or market insurance.
“On behalf of Wisconsin’s credit unions and their more than three million members, we thank Senator Baldwin and her colleagues Senators Tim Scott, Joe Manchin and Mike Rounds for their efforts to rein in the unnecessary overreach of the CFPB,” said League President & CEO Brett Thompson.