WASHINGTON, DC (July 16, 2018) — National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger today issued the following statement after House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Ranking Member Maxine Waters (D-CA) unveiled the bipartisan JOBS Act 3.0, which includes a two-year delay of the National Credit Union Administration’s risk-based capital (RBC) rule. After passage of the NAFCU-backed Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), NAFCU has worked with Chairman Hensarling, Ranking Member Waters and other Members of Congress to ensure additional regulatory relief measures were undertaken in the 115th Congress.
“NAFCU applauds the bipartisan work of Chairman Hensarling and Ranking Member Waters in crafting the JOBS Act 3.0, which will provide important regulatory relief to credit unions. NAFCU has long advocated for a two-year delay of the NCUA’s risk-based capital rule to allow credit unions more time to prepare and comply while also giving the agency more time to fix the rule. Americans deserve a regulatory environment that supports innovation and promotes consumer access to credit, and we thank Chairman Hensarling and Ranking Member Waters for helping to bring about necessary regulatory relief to credit unions,” said NAFCU President and CEO Dan Berger.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
