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House subcommittee members have CU reg relief legislation in mind

Regulatory relief legislation for credit unions has clearly been on the minds of House Financial Services subcommittee members today during a hearing on that subject at which Credit Union National Association witness Pamela Stephens presented CUNA's 35-point relief plan.

After multiple introductory statements by subcommittee members that noted a willingness to move forward on legislation, and after Stephens presented CUNA's relief plan, the vice chairman of the House Financial Services Committee, Rep. Gary Miller (R-Calif.) announced he will introduce a credit union relief bill.

Other subcommittee members noted interest is developing a legislative package to address simultaneously credit union regulatory concerns along with those of community banks. Stephens, who is CEO of Security One FCU, Arlington, Texas, assured lawmakers that there are many issues credit unions and small banks could agree on.
The hearing continues.

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