WASHINGTON—As the regulatory relief bill that rolls back much of Dodd-Frank remains stalled as negotiations continue over how to reconcile the version of the bill passed by the Senate with that passed earlier by the House, the Wisconsin CU league has teamed with the Wisconsin Bankers Association to urge Speaker of the House Paul Ryan (R-WI) to take up and pass the bipartisan legislation.
The Economic Growth, Regulatory Relief and Consumer Protection Act passed the Senate earlier this month.
"Together, we respectfully ask that the House promptly pass S 2155 and allow our institutions to better serve Wisconsin’s consumers and communities," wrote league President Brett Thompson and WBA President Rose Oswald.
The letter notes:
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The strong bipartisan support for the version of the bill passed in the Senate
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The “common-sense” provisions in the bill that mirror 15 issues the House has already passed in House regulatory relief package, the Financial CHOICE Act
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Improvements the bill would make related to qualified mortgages, Home Mortgage Disclosure Act reporting and elder financial abuse
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Benefits to financial institutions' ability to serve consumers, revitalizing lending and supporting local economies
- The tremendous effort by Senators to compromise, craft and pass the widely supported bipartisan bill, overcoming various motions and procedural hurdles