BOISE, Idaho—The Northwest Credit Union Association has joined with leaders of state banking associations in Idaho, Oregon and Washington to push members of Congress from those states to support the Economic Growth, Regulatory Relief and Consumer Protection Act.
The bill was passed by the Senate in March and awaits House consideration.
“This bill truly is a measured approach to regulatory relief for the nation’s community-based financial institutions,” wrote NWCUA President/CEO Troy Stang and Oregon Bankers Association President/CEO Linda Navarro to Oregon’s members of Congress.
“S 2155 is a carefully crafted bipartisan bill that includes commonsense improvements to the nation's financial rules that will allow community banks and credit unions to better serve their customers and communities,” wrote Stang and Idaho Bankers Association President/CEO Trent Wright. “It will open doors for more creditworthy borrowers and businesses, and it will contribute to local economic growth and job creation nationwide.”
Stang, along with Washington Bankers Association President/CEO Glen Simecek and Community Bankers of Washington President/Executive Director John Collins asked Washington’s members of Congress to vote in favor of the bill as well.
“As this bill is considered in the U.S. House of Representatives, we hope to count on your aye vote. The bill will help Washington’s community banks and credit unions better serve our customers and communities by opening doors for more creditworthy borrowers and businesses,” the letter states. “This in turn will contribute to economic growth in Washington and nationwide. This bill is vital to Washington’s consumers, small businesses, and the community-based financial institutions that serve them.”
Credit union associations in Michigan and Wisconsin have also recently joined with bankers in their states to lobby for the bill.