WASHINGTON — House Speaker John Boehner promised that the House will work hard to ease the regulatory burden so credit unions can lend more money and businesses can create new jobs.
The financial overhaul bill that was passed last year “will punish everyone who had nothing to do with the Wall Street crash,” Boehner (R-Ohio) said in a speech at CUNA’s Governmental Affairs Conference.
He said the regulations triggered by the law would hurt credit unions' ability to provide credit.
He didn't outline specific proposals to alter the bill and didn't talk about debit interchange.
Boehner also expressed concern about the spiraling national debt and criticized President Obama for not proposing enough spending cuts.
He said Obama “sunk from the challenge like an ice cream cone on a Phoenix street in July.”