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House Speaker Paul Ryan, R-Wis., said Tuesday that the House will take up the NAFCU-supported Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and that the Senate is expected to take up several House-passed bills that would provide regulatory relief to the financial services industry. NAFCU has been active on Capitol Hill – meeting with Republican and Democratic members in the both the House and Senate – in an effort to pursue regulatory relief for credit unions, including S. 2155 and other pending measures.

On Monday, NAFCU President and CEO Dan Berger outlined a number of top legislative items still pending before Congress, including S. 2155 and legislation to delay NCUA's risk-based capital rule (H.R. 5288), and asked leaders in the House and Senate to work with the association to address these issues and bring the credit union industry much-needed regulatory relief. Berger specifically pushed for Senate leaders to consider additional regulatory relief for credit unions as soon as possible.

In his letter, Berger urged congressional leaders to address regulatory relief, risk-based capital reform, data and cybersecurity standards, field of membership reforms, and lawsuit abuse under the Americans with Disabilities Act to bring further relief to the credit union industry.

NAFCU has been an ardent supporter of S. 2155 since it was introduced by Senate Banking Committee Chairman Mike Crapo, R-Idaho, and several Democratic members of the committee in November. The association also has an active grassroots campaign urging credit unions to contact their lawmakers in support of this regulatory relief effort.

NAFCU is on Capitol Hill this week pushing for credit union regulatory relief on several fronts and will keep credit unions updated as much-needed relief makes its way through the legislative process.