Reg relief bill S. 2155 passes House; monumental win for credit unions – CUInsight

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NAFCU remains active on Capitol Hill – meeting with Republican and Democratic members in the both the House and Senate – in an effort to pursue meaningful regulatory relief for credit unions. The House is preparing in the coming weeks to consider the NAFCU-backed Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).

Sen. Mark Warner (D-Va.) points out hazards ahead for S.2155 during remarks to bankers Tuesday. The future of regulatory relief legislation passed by the Senate faces dismal prospects if the House makes changes to the bill and sends it back for reconsideration by the upper chamber, a Senate co-author of the legislation said Tuesday.

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Credit unions have not seen a federal legislative "win" this monumental since the unforgettable day the Credit Union Membership Act – H.R. 1151-passed in 1998. Shane Berger, President/CEO of Rexburg, ID-based Beehive FCU, was in the House the day that bill passed, and feels today is just as important.

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Credit Union Journal: Parliament’s Brexit rejection won’t make life easier for credit unions. Stress testing reg burdens made ‘proportional’ at World Council of Credit Unions’ urging. U.S. credit union exec elected Chair of World Council of Credit Unions Board of Directors.

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Financial choice act passes house – A Win for Regulatory Relief . Financial CHOICE Act Passes House – A Win for Regulatory Relief . posted by Nora Revie on Fri, 06/09/2017 – 8:22am.. The bill now moves to the U.S. Senate.