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Congress Introduces Seven New Regulatory Relief Bills
Monday, March 9, 2015 6:40 AM

Seven bills have been introduced in Congress in the last week that, if enacted, will help remove barriers for credit unions to more fully serve their members.

Credit Union National Association Chief Advocacy Officer Ryan Donovan said of the new bills, "Their introduction, we hope, will facilitate their consideration as part of the regulatory relief process in which the Senate Banking Committee and House Financial Services Committee are engaged. We expect additional legislation to be introduced after the House returns from recess next week.

In a message to CUNA members, Donovan underscored the importance of the advocacy work that will be accomplished by the thousands of credit union leaders who will be visiting federal lawmakers to discuss key credit unions issues as part of the advocacy outreach at next week's CUNA Governmental Affairs Conference.

The seven bills affecting credit unions that were introduced in the U.S. House of Representatives this week are:

  • H.R. 1188: Credit Union Small Business Jobs Creation Act (MBL);
  • H.R. 1195: Related to CFPB Advisory Boards;
  • H.R. 1176: The National Credit Union Administration Budget Transparency Act;
  • H.R. 1210: Portfolio Lending and Mortgage Access Act;
  • H.R. 1266: Related to the establishment of a five-member Consumer Financial Product Safety Commission in place of the single-director Consumer Financial Protection Bureau;
  • H.R. 1233: Community Lending and Regulatory Relief  (CLEARR) Act; and
  • H.R. 1259: Helping Expand Lending Practices (HELP) in Rural Communities Act.