Hearing Letter Sent Prior to House Financial Services Markup - 12072017

On December 7, CUNA sent a letter to Chairman Hensarling and Ranking Member Waters prior to the House Financial Services Markup in support of certain regulatory relief measures.

  • H.R. 4464, the Common Sense Credit Union Capital Relief Act of 2017, which would repeal NCUA's risk-based capital rule.
  • H.R. 3746, the Business of Insurance Regulatory Reform Act of 2017, which clarifies Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act to ensure that the regulation of insurance is done at the state level.
  • The Comprehensive Regulatory Review Act of 2017 amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) to require the Federal Financial Institutions Examination Council and federal financial regulators, including the CFPB and NCUA, to review all existing regulations once every five years. While CUNA supports this bill and the timely review of regulations, we acknowledge NCUA's effective regulatory review and do not wish to see that affected by any legislation.

Read the letter