This week: Reg relief vote on horizon, NAFCU steps up advocacy

Both the House and Senate are in session this week, and House leadership announced last week that a vote is possible on the NAFCU-backed Economic, Growth, Regulatory Relief and Consumer Protection Act (S. 2155) before Memorial Day. Ahead of a House vote on the issue, NAFCU lobbyists are continuing to hold bipartisan meetings on Capitol Hill throughout the week, and the association encourages credit unions to keep contacting members of Congress and urge their support of S. 2155.

NAFCU has long fought to reduce burdensome regulations placed on credit unions; the association was the only trade group to oppose subjecting credit unions to CFPB authority under the Dodd-Frank Act. More recently, NAFCU has been vocal on its support for S. 2155 since it was introduced by Senate Banking Committee Chairman Mike Crapo, R-Idaho, and several Democratic members of the committee in November.

NAFCU and credit union advocacy efforts led to announcements last week by House Speaker Paul Ryan, R-Wis., and House Financial Services Committee Chairman Jeb Hensarling, R-Texas, that other regulatory relief measures may get considered in addition to S. 2155.


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