When credit union trade associations spoke, Sen. Richard Shelby (R-Ala.) and his staff apparently listened. As a result, industry leaders are pleased with yesterday's draft of the Senate Banking Committee's proposed Financial Regulatory Improvement Act of 2015 and its inclusion of specific guidance regarding credit union regulatory issues.
“We are pleased that the discussion draft has a number of provisions to provide regulatory relief to credit unions,” NAFCU President/CEO Dan Berger said in a prepared statement. “We are continuing to review it and look forward to working with the chairman and committee members prior to next week's mark-up to help advance NAFCU's priorities for credit union regulatory relief.”
CUNA also was pleased with the bill, according to President/CEO Jim Nussle, who thanked Shelby for offering so many credit union solutions.
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