X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-Influential Financial Services Committee Chairman Mike Oxley (R-Ohio) is pumping NCUA for additional ideas on how to make the lives of credit union leaders easier. Oxley wrote NCUA Chairman Dennis Dollar last week in search of provisions the agency is interested in adding to last year’s regulatory relief legislation. In the letter, Oxley explained that the bill would be based on H.R. 3951 from last year. He asked that Dollar respond no later than Jan. 24. That will not be a problem, according to Special Assistant to the Chairman for Public Affairs Nick Owens, who said the chairman would reply before the deadline. The suggestions, which will start with those not adopted during the last request, will be made public after they are formulated and forwarded to Oxley, he said. “Chairman Dollar looks forward to working with Chairman Oxley and the Financial Services Committee on putting forth solid regulatory relief legislation that can be sent to the Senate,” Owens said. He is referring to the last bill that was passed by the House, but left untouched by the Senate. Senate Banking Committee Chairman-elect Richard Shelby (R-Ala.) was drafting a sister bill at the end of the last Congress, credit union lobbyists have said. Sponsored by Representative Shelley Moore Capito (R-W.V.), but fueled by Oxley, the bill contains a number of credit union gems in it including expansion of credit union investment authorities, increase in loan maturity limits, upping the 1% CUSO investment limit to 3%, and excluding loans to nonprofit, religious organizations from the member business lending cap, for starters.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.