INDIANAPOLIS—The Indiana Credit Union League has become the latest to join with its state banking counterpart to urge members of Indiana’s congressional delegation to support the Economic Growth, Regulatory Relief and Consumer Protection Act.
The bill passed the Senate in March.
“S 2155 is a carefully constructed compromise that provides commonsense reforms – fifteen of which are consistent with bills that have already passed the House in bipartisan votes. Its widespread benefits will positively impact Indiana’s consumers doing business with our community financial institutions, including regulatory relief related to qualified mortgages, Home Mortgage Disclosure Act reporting, and elder abuse. The commonsense reforms in S 2155 provide relief to allow our institutions to focus on serving consumers, rather than on meeting arbitrary measures of regulatory compliance,” the groups wrote to the state legislature in a joint letter.
The letter, signed by Indiana Credit Union League President John McKenzie and Indiana Bankers Association President Amber Van Til, goes on to express appreciation for the House’s leadership role in bringing regulatory relief up in hearings and legislation, crediting them for starting the momentum used by the Senate to “craft, debate and ultimately pass,” the bill.
“We also are confident that you will agree that enacting S 2155 offers an opportunity to demonstrate to the citizens of Indiana how Congress can work in unison when presented with beneficial and reasonable reforms to create and enhance economic growth,” the letter reads. “Together, we respectfully ask that the House promptly pass S 2155 and allow our institutions to better serve Indiana’s consumers and communities.”
As CUToday.info has reported, state CU leagues in Wisconsin, Idaho, Oregon, Washington, Michigan and Georgia have also joined with their state banking organizations to lobby Congress to pass the bill.