WASHINGTON--Wednesday, America’s Credit Unions President/CEO Scott Simpson met with Senate Banking Committee Chairman Tim Scott (R-SC) to discuss fundamental credit union issues, ACU reported.
“Meeting with Chairman Scott today underscored his deep commitment to credit unions and the members we collectively serve. Our partnership with Chairman Scott and the Senate Banking Committee is key to ushering through legislative priorities for our credit unions that will drive impact for years to come,” said Simpson.
As chair of the Senate Banking Committee and a former credit union board member, Scott has supported several credit union issues, including his general support of the Credit Union Modernization Act.
Simpson also highlighted America’s Credit Unions’ support for the inclusion of central liquid facility and Community Development Financial Institutions in the Senate’s version of the National Defense Authorization Act (NDAA). In addition to these issues, Simpson also stressed the need for statutory CFPB reform to ensure the Bureau is right-sized and credit unions are not unfairly expected to meet burdensome regulatory requirements.