Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON — The Financial Services Regulatory Relief Act (S. 2856) is waiting on the final step in the process to become law: George W. Bush’s John Hancock.

In a late night session Sept. 29 (actually, early Sept. 30) before adjourning for campaigning, the Senate approved the bill by unanimous consent, which means there were no remaining objections. Credit union specific provisions in the legislation included allowing low- and no-cost land leases on military installations; expanding the 12-year loan maturity limit to 15; permitting wire transfers and check cashing for anyone within the field of membership; and the so-called “FASB fix” from the original Senate bill.

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.