February 10, 2014

Thaler urges CU reg relief ahead of hearing

Feb. 11, 2014 – NAFCU Vice President of Legislative Affairs Brad Thaler wrote leaders of the House Judiciary Committee on Monday reminding them of credit unions' current regulatory burden and extending support for the goals of the regulatory relief legislation being evaluated in today's hearing.

The hearing, "Searching for and Cutting Regulations that are Unnecessarily Burdensome (SCRUB) Act of 2014," is named for new draft legislation that would establish a review process for regulations and identify those that should be repealed or amended to reduce unnecessary regulatory burdens throughout the government.

"NAFCU supports the intention of regulatory relief behind this draft legislation and believes it would be a good first step in addressing the overly burdensome regulatory environment credit unions face," Thaler wrote to House Judiciary Committee Chairman Bob Goodlatte, R-Va., and Ranking Member John Conyers, D-Mich.

With Monday's letter, Thaler also included NAFCU's five-point plan for credit union regulatory relief.