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Sen. Richard Shelby (R-AL) and Rep. Jeff Miller (R-FL) honored as LSCU Federal Lawmakers of the Year
Sen. Shelby supports reduced regulation for credit unions
Rep. Miller introduced legislation to help credit union lending to veterans
BIRMINGHAM, AL/TALLAHASSEE, FL (March 12, 2015) — March 11, 2015, The League of Southeastern Credit Unions & Affiliates (LSCU) honored Sen. Richard Shelby (R-AL) and Rep. Jeff Miller (R-FL) as its 2014 Lawmakers of the Year. Sen. Shelby was presented the award during the credit union Hill visits as part of the Credit Union National Association’s Governmental Affairs Conference in Washington, D.C. on March 11.
“Sen. Shelby and Rep. Miller have each proven to be understanding of the issues facing credit unions,” said LSCU & Affiliates President/CEO Patrick La Pine. “Rep. Miller is sponsoring legislation to exempt business loans to veterans from credit unions from the member business lending cap; while Sen. Shelby sent a letter of concern to the NCUA about the risk-based capital proposal. These actions alone show credit unions that each has an eye on their issues.”
Sen. Shelby, chairman of the Senate Banking Committee, has long supported reduced regulation for credit unions. In February, 2015, he held a hearing on regulatory reform and invited a credit union representative to testify. In 2014, he wrote a letter to NCUA Chairman Debbie Matz addressing concerns he had on the new risk based capital (RBC) proposal. The letter showed that Sen. Shelby supported credit unions in their efforts to change the first proposed RBC rule.
Rep. Miller, chairman of the House Committee on Veterans Affairs, introduced legislation that would exempt member business loans made to veterans from the member business lending (MBL) cap. He re-introduced the bill in 2015. Rep. Miller was also one of the first to sign the King-Meeks letter to the NCUA concerning the RBC proposal; he also supports raising the MBL cap, and supplemental capital. Rep. Miller’s support of credit unions goes all the way back to his time in the Florida House of Representatives.
The LSCU hands out federal and state Lawmaker of the Year awards each year to show support for legislators that listen to the issues, co-sponsor legislation and vote in support of credit union position. Rep. Miller will be presented his award later this year.
The League of Southeastern Credit Unions represents 279 credit unions in Alabama and Florida with a combined total of $65 billion in assets and more than 6.5 million members. LSCU provides advocacy and regulatory information; education and training; cooperative initiatives (including financial education outreach); media relations and information; and business solutions. For more information, visit www.lscu.coop. Follow the League on Twitter or Facebook.