WASHINGTON–The repeal of regulations related to credit union member business loans is included on a list of actions one congressman wants Congress and President-Elect Trump to take in the first 100 days of the new administration.
In particular, the specific MBL rule the congressman proposes repealing are the expanded powers NCUA approved in March of this year. That would appear to be a bank-backed provision. Whether the president would be able to repeal rules approved by an independent agency would be the subject of debate.
Rep. Mark Meadows (R-NC), the incoming chairman of the conservative House Freedom Caucus, met with Trump and during the meeting delivered the document titled, “First 100 Days: Rules, Regulations, and Executive Orders to Examine, Revoke and Issue.”
Credit unions appear as item number 213 under the headline, “Recommended List of Regulations to Remove: Office of the President.” Under the headline “Rule” appears “National Credit Union. Member Business Loans; Commercial Lending. The Federal Register document 81 FR 135 30 appears, as does the effective date of March 14, 2016.
Meadows’ list of regulations to be gotten rid of include everything from access to executive branch paper to the Paris Climate Accords to fuel standards to school nutrition.
The full list can be found here.