Proposed amendment would establish a reserve fund to help cover disproportionate regulatory burdens on CUs.
Exempting 77% of credit unions from a rule creates a two-tiered regulatory system.
Burdensome call reports are also a problem for credit unions, says a credit union executive at an NCUA Listening Session.
NAFCU, CUNA say regulatory impact is real and growing, despite NCUA testimony on Tuesday.
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.
Trade lobbyist says member business lending cap would be too controversial to be in California congressman's bill expected to drop this week.
Missouri Rep. Blaine Luetkemeyer's bill doesn't mention credit unions but would provide some regulatory relief, trades say.
Senate bill would end subsidies for the biggest banks and abandon Basel III for the smaller ones. Credit unions? Not mentioned.
Three credit union witnesses testified April 10 in a House Financial Services Committee Financial Institutions Subcommittee hearing that rules and regulations mandated by the Dodd-Frank Act are interfering with credit unions’ ability to serve their members.
Miller made the announcement during his opening remarks for a hearing on credit union regulatory burden.