X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – CUNA President and CEO Dan Mica wrote a letter to Senate Banking Committee Chairman Richard Shelby (R-Ala.) encouraging the committee to get a bill passed this congressional session. The March 25 letter pointed to the House’s overwhelming vote (392-25) to pass H.R. 1375, the Financial Services Regulatory Relief Act. A companion bill has yet to be introduced on the Senate side. Mica reminded Shelby, “Credit unions remain the most highly regulated and restricted of all insured financial institutions.” He noted the “severe restrictions” credit unions have faced following the passage of the Credit Union Membership Access Act, which solved some problems but raised others. “As a result, CUNA supports efforts to reduce the regulatory red tape that prevents credit unions from serving their membership and reaching out to underserved and unbanked communities.” Mica urged that the Senate Banking Committee get a bill out before the end of the legislative year. “CUNA and its member credit unions strongly encourage the committee to review and consider legislation this year to relieve America’s credit unions of unneeded and burdensome regulations,” he concluded.

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.