The House voted 233-186 Thursday to pass the Financial CHOICE Act, a regulatory relief bill with several credit union-friendly provisions. CUNA President/CEO Jim Nussle thanked the House for their vote, and said CUNA will continue its engagement to get regulatory relief legislation across the finish line.

“We applaud the House of Representatives for passing the Financial CHOICE Act, and we appreciate Chairman Hensarling’s leadership on this issue,” said Jim Nussle, CUNA president/CEO. “This bill represents a big win for credit unions and their members. And, as the debate moves to the Senate, we will continue to play offense to ensure Congress enacts common-sense legislation that improves the operating environment for credit unions to more fully serve their members.”

The CHOICE Act makes a number of CUNA-supported changes to the Consumer Financial Protection Bureau (CFPB), NCUA examination process and more.

Prior to the vote, a number of members spoke of the need for regulatory relief for credit unions and the need for common-sense regulation. Speaker of the House Paul Ryan (R-Wis.) said the bill will “bring hope back to Main Street.”

 

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