Regulatory relief becomes law

Yesterday, President Donald J. Trump signed into law S. 2155, the NAFCU-backed Economic Growth, Regulatory Relief and Consumer Protection Act. With the President’s action, credit unions scored a big win as a series of regulatory relief provisions for credit unions were enacted into law.

Getting here was not easy and years in the making. The NAFCU advocacy team has been fighting for regulatory relief for you for years. Our recent efforts include:

  • Meeting earlier this year with President Trump to discuss opportunities to strengthen the credit union industry, specifically through regulatory relief (which his administration has championed).
  • Testifying before the House and Senate last year on the need for regulatory relief for credit unions.
  • Meeting with key members of Congress, such as Senate Banking Committee Chairman Mike Crapo, R-Idaho, and House Financial Services Committee Chairman Jeb Hensarling, R-Texas, as they worked on bipartisan legislation to provide credit unions and other community-based financial institutions with regulatory relief.

 

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