CUNA & Leagues Letter to the Senate Banking Committee

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Last month, the chairman and ranking member of the Senate Banking Committee initiated a bipartisan process to examine regulatory relief and economic growth items for financial services providers. This morning, the Credit Union National Association and the California and Nevada Credit Union Leagues submitted a co-signed letter as these changes represent our unified voice for the optimal operating environment for credit unions in this committee's jurisdiction. The letter covers topics from Consumer Financial Protection Bureau relief; charter enhancements, including the elimination of the member business lending cap; treatment of non-owner occupied residential loans; and modernizing field of membership requirements.

The Banking Committee members have been collecting submissions and will now move to a review process. Policy development will commence over the next few months to address industries concerns. No official time line has been established.

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