The House Financial Services Committee passed a host of NAFCU-backed regulatory relief bills out of committee yesterday following a two-day mark-up that addressed Home Mortgage Disclosure Act (HMDA) improvements and tailoring of regulations to limit burdens on affected institutions. One approved bill would also raise the CFPB supervision and examination threshold from $10 billion to $50 billion.

“We thank Chairman [Jeb] Hensarling and the committee for recognizing the regulatory burden facing today’s credit unions and for advancing legislation that would provide some regulatory relief,” said NAFCU President and CEO Dan Berger. “We are pleased to see a number of these bills get bipartisan support and look forward to continuing to work with lawmakers as these bills now await House action.”

NAFCU Vice President of Legislative Affairs Brad Thaler sent a letter to the committee on Tuesday, urging action on the regulatory relief measures that would help credit unions.

 

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