Berger, Huizenga discuss need for CU reg relief

NAFCU President and CEO Dan Berger met Wednesday with House Financial Services Subcommittee Chairman Bill Huizenga, R-Mich., to discuss issues critical to the credit union industry, including ongoing efforts to secure even more regulatory relief.

Berger thanked Huizenga for his support that helped secure passage of the bipartisan, NAFCU-backed Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). NAFCU has been heavily engaged on Capitol Hill this year advocating for passage of credit union regulatory relief measures. NAFCU’s non-stop bipartisan meetings on the Hill, along with credit unions’ grassroots activities, were instrumental in the passage of S. 2155.

NAFCU is pushing for Congress to do even more for credit unions ahead of the November elections.

The association is making progress on protecting credit unions from the harmful effects of NCUA’s risk-based capital (RBC) rule, as language to delay its implementation date has been included in two House bills – one of which passed the House Tuesday. Berger and Huizenga, chairman of the Subcommittee on Capital Markets, Securities, and Investments, discussed the importance of this provision to the industry.


continue reading »