Miller’s Reg Relief Bill Gets Thumbs Up From CU Execs
Credit unions executives located in or near Rep. Gary Miller’s (R-Calif.) district in Southern California voiced their approval of a bill introduced by the House Financial Committee leader on June 28.
H.R. 2572, The Regulatory Relief for Credit Unions Act, would establish a risk-based capital system for credit unions, authorize the NCUA to delay or modify CFPB regulations, and provide additional regulatory relief measures.
The bill had no co-sponsors upon introduction but given Miller’s vice chairman position on the House Financial Services Committee, one or more measures could appear in a regulator relief package.
“Ultimately, I think you’ll see the committee see what they can cobble together from the proposals out there,” said NAFCU Vice President of Legislative Affairs Brad Thaler. “That remains their goal, to try to move a number of things as a package, but what makes up that package has yet to be determined.”