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FOR IMMEDIATE RELEASE | March 14, 2018

NAFCU CEO Responds to Passage of Senate Reg Relief Bill

WASHINGTON -- National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger today issued the following statement regarding the Senate passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) on a bipartisan vote. NAFCU has advocated for the bill's passage since it was introduced by Senate Banking Chair Mike Crapo, R-Idaho,and several Democratic members of the Senate Banking Committee in November.

"The Senate's passage of this bill is a great first step, as one of the greatest challenges facing the credit union industry is unnecessary, burdensome regulation. NAFCU and our members sincerely thank [Senate Banking Committee] Chairman [Mike] Crapo and his Democratic colleagues for crafting bipartisan legislation to address this worrisome trend, and the senators on both sides of the aisle who voted in favor of it," said Berger. "Americans deserve access to safe, affordable financial products, and this legislation would help create a regulatory environment in which credit unions can more easily deliver those services to their 111 million members."

NAFCU has been engaged with both the House and Senate as this bill works its way through the legislative process. The association plans to continue to advocate for action on additional credit union regulatory relief measures and has launched a grassroots campaign across ten key states, urging credit unions to contact their senators in support of the bill.

More details on the NAFCU-supported provisions of the bill can be found here.

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The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.