The regulatory overhaul plan proposed by House Financial Services Chairman Jeb Hensarling (R-Texas) favors banks and does not give enough regulatory relief to credit unions, CUNA President/CEO Jim Nussle said in a letter to the chairman on Friday.
"We appreciate your efforts to propose meaningful regulatory reform for credit unions, and we encourage to go even further toward the goal of reducing regulatory burden so that credit unions can more fully serve their members," Nussle said in the letter, which expands upon his testimony on one section of the plan before the committee last week.
At the time, Nussle promised a broader reaction to the proposal.
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