CUNA engaged as CHOICE Act process moves forward
WASHINGTON, DC (April 20, 2017) — The House Financial Services committee will conduct a hearing on Rep. Jeb Hensarling’s (R-Texas) Dodd-Frank alternative bill April 26. The bill, the Financial CHOICE Act, contains a number of regulatory relief provisions.
“CUNA appreciates Chairman Hensarling’s efforts to bring meaningful regulatory relief for the country’s financial institutions, including credit unions,” said CUNA President/CEO Jim Nussle. “Unnecessary, overly burdensome and duplicative regulations have significant impact on credit unions’ ability to provide safe and affordable financial services to their members. And, credit unions have been making their voice heard on Capitol Hill on the need for common-sense regulations. CUNA and our state associations have been active and engaged in this process through ongoing dialogue about Choice 2.0 on behalf of credit unions with Chairman Hensarling and his staff. We appreciate the openness with which they have operated.
“While no bill of this size and complexity is perfect, the legislation includes a number of provisions that we believe would reduce credit unions regulatory burden allowing them to more fully provide their members with safe and affordable financial services. We are encouraged that the Chairman intends to take the legislation through the Financial Services Committee, and we look forward to seeing this process progress.
“CUNA and the Leagues urge credit unions to remain active and engaged by educating their employees and members on the need for regulatory relief. An excellent way to accomplish this is by enrolling in the CUNA Member Activation Program. More than 400 credit unions are now signed up. Our research shows that when you educate your members about the credit union movement and the issues we face, it deepens their loyalty and engagement with your institution. Engaging in this effort is critical to our efforts to stay on advocacy offense.”
CUNA sent a letter to Chairman Hensarling in January regarding the Financial CHOICE Act.
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
