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Removing Barriers Blog

Both House and Senate Address De-risking with Chairman Metsger
Posted October 21, 2016 by CUNA Advocacy

Congressman Blaine Luetkemeyer (R-MO) and Senator Jeff Flake (R-AZ) wrote Chairman Metsger with concerns about the lack of supervisory guidance on the practice of de-risking.  Their letter asks that the NCUA provide a written response to concerns about certain credit union accounts being closed due to the nature of the businesses the members operate.  In the 114th Congress, Congressman Luetkemeyer was also the lead sponsor of legislation to limit Operation Chokepoint.   While credit unions are committed to combating money laundering, lawfully abiding credit union members’ accounts should not be wrongfully terminated. 

Letter from Luetkemeyer and Flake to Metsger