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Chairman Hensarling Addresses CU Concerns at CUNA GAC
Monday, March 20, 2017 7:00 AM

Texan Jeb Hensarling, chairman of the US House Financial Services Committee, took time to address several thousand credit union leaders recently at the CUNA Governmental Affairs conference.

Chairman Hensarling started out his speech referencing letters he had received from credit union leaders about their struggles with CFPB rules and the need to repeal the Durbin amendment. After he read excerpts from each letter, the chairman responded, “Message received.”

“Chairman Hensarling is committed to providing real relief to credit unions from the avalanche of one-size-fits-all rules coming down on credit unions from the CFPB,” said Jeff Huffman, president of the Texas Credit Union Association. “We appreciate the work the chairman and his staff have put into the Financial Choice Act, seeking input from Texas credit unions on what is needed to help them best serve their members.”

In a meeting with Chairman Hensarling during the CUNA GAC, he said the best consumer protection for Americans is lots of credit unions and community banks providing options for consumers, and having the option and ability to go down the street to a community financial institution is real consumer protection.

Cornerstone Credit Union League President Dick Ensweiler said, “Chairman Hensarling has done a fantastic job of leading the Financial Services committee. It has been my privilege to work with him on credit union issues, and I very much appreciate his understanding of the need to address the endless CFPB rulemaking on credit unions and community banks.”

Watch Chairman Hensarling's speech to the CUNA GAC here.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.