Congressman Gary Miller (R-Calif.) announced on Wednesday he plans to retire from Congress at the end of his current term.
Miller, vice chairman of the House Financial Services Committee, has supported legislation affecting credit unions including The Regulatory Relief for Credit Unions Act. Miller introduced the bill last year, which would establish a risk-based capital system for credit unions, authorize the NCUA to delay or modify CFPB regulations, and provide further regulatory relief measures.
“Credit unions play a unique role in our economy. Unlike other financial institutions, they are cooperatives and exist to serve their member-owners, not outside stockholders,” Miller said in April of last year.
“This allows them to provide lower loan rates, higher interest on deposits, and lower fees. Hampering their ability to perform these services and to provide loans to families and small businesses will harm millions of American consumers and stifle economic growth and job creation.”
Miller caused a stir during the 2012 NAFCU Congressional Caucus when he announced from the podium during his general session speaking slot that the California Credit Union League hurt his feelings when it supported his re-election opponent. The CCUL contributed $250,000 to former Arrowhead Credit Union executive Pete Aguilar in that losing effort.
Miller, who elected to his 8th term in the House in 2012, attributed his decision to family circumstances.
“When I came to Congress in 1999 my children were grown and out of the house. Today, we have a full house again. My wife and I are raising our three grandchildren,” he said. “While family circumstances dictate that I must leave this great institution at the end of this session of Congress, I am committed to serving out my term with the same energy and enthusiasm that I have always brought to the debate.”
Miller urged Congress to remain focused on creating jobs, growing the local economy, and stabilizing the housing market.
“Rather than waste our time on proposals that divide us, we need to focus on feasible, bipartisan solutions to provide opportunities for hardworking Americans,” he said.