NAFCU continues push for reg relief ahead of Trump’s SOTU

Ahead of President Donald Trump’s State of the Union address tonight, NAFCU is calling for increased regulatory relief for the credit union industry. NAFCU is actively engaged with the administration and Congress, federal regulators and other stakeholders to find ways to reduce the amount of regulations with which credit unions must comply.

NAFCU, along with other financial trades, sent a letter Monday to Senate Majority Leader Mitch McConnell, R-Ky., and Minority Leader Chuck Schumer, D-N.Y., urging them to bring a bipartisan regulatory relief package to the Senate floor for a vote.

The Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) includes several NAFCU-backed provisions, including one to provide relief under the member business lending (MBL) cap and certain Home Mortgage Disclosure Act (HMDA) disclosure requirements. The Senate Banking Committee reported the bill late last year and it awaits action before the full Senate.


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