CUs earn historic victory as House passes S. 2155 regulatory relief bill

The House voted Tuesday to pass the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), a bipartisan regulatory relief bill that will provide much needed regulatory relief for credit unions. Having passed the Senate in March, the bill now goes to President Donald Trump for his signature, which is expected in the coming days.

“CUNA, state credit union leagues, credit unions and credit union members all deserve a major round of applause for getting this historic bill through Congress and onto the president’s desk,” said CUNA President/CEO Jim Nussle. “From the moment a group of bipartisan Senators unveiled this bill, credit unions told them loud and clear that this is an essential piece of regulatory relief legislation that will improve access to mortgage lending, real estate loans and other products and services, while putting focus on senior abuse and cyberthreats.

“We thank that group of Senators, their colleagues who voted in favor of the bill, House leadership, and all the members of the House who supported S. 2155. The bill’s opponents fought hard, but these credit union champions stayed strong and stuck to their guns leading into a tough election year, and they deserve our thanks,” Nussle added.

 

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