Financial Services subcommittee to consider 3 CUNA-backed bills

Three CUNA-backed regulatory relief bills will be discussed by the House Financial Services subcommittee on financial institutions and consumer credit this week. The hearing, titled “Examining Legislative Proposals to Reduce Regulatory Burdens on Main Street Job Creators,” is scheduled for Wednesday at 10 a.m. (ET).

The CUNA-backed bills up for discussion are: the Preserving Capital Access and Mortgage Liquidity Act of 2015 (H.R. 2473), the National Credit Union Administration Budget Transparency Act (H.R. 2287) and the Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2015 (H.R. 2896).

“These bills, combined with the other 17 bills the committee has approved this year, cut to the heart of the problem that credit unions face in the aftermath of the financial crisis with respect to regulatory burden,” said Ryan Donovan, CUNA’s chief advocacy officer. “Policymakers from across the political spectrum acknowledge that credit unions and small banks were not responsible for the financial crisis, but the public policy response to the crisis without question fails to recognize this seemingly indisputable fact.”

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