WASHINGTON—With the House expected to vote on the Financial CHOICE Act next week following the Memorial Day recess, NAFCU is urging credit unions to reach out to lawmakers now to advocate strongly for regulatory relief.
The CHOICE Act – introduced by House Financial Services Chairman Jeb Hensarling (R-TX) – includes provisions that would ease some mortgage rules, require a review of appropriate risk capital levels, rein in the CFPB's authorities and more. A credit union-supported provision to repeal the Durbin Amendment, however, has been pulled from the legislation.
“Recess periods are a prime opportunity for credit unions to connect with members of Congress while they visit their home states and districts and to show them the importance of regulatory relief for credit unions and their members,” NAFCU said.