WASHINGTON—Sen. Richard Shelby (R-AL) announced he will not seek re-election in 2022.
Shelby, 86, who has served in the Senate since 1987, is the current vice chair of the Senate Appropriations Committee, and previously chaired the Senate Banking Committee.
“Sen. Shelby is a friend to credit unions and worked with us on numerous occasions to draft regulatory relief legislation that aligns with CUNA and league priorities,” said CUNA President/CEO Jim Nussle, who served in the House from 1991-2007. “Many of the provisions he championed have been signed into law, benefitting credit unions and their members. We congratulate him on a successful career and wish Sen. Shelby and his family the best going forward.”
Enacted regulatory relief provisions championed by Shelby include modernizing privacy notice requirements and allowing privately insured credit unions to join the Federal Home Loan Bank system, CUNA noted.