Removing Barriers Blog

H.R. 2896, the Taking Account of Institutions with Low Operation Risk Act of 2015
Posted July 06, 2015 by Chandler Schuette

CUNA sent a letter to Representative Tipton and Representative Barr in support of their legislation, H.R. 2896, “Taking Account of Institutions with Low Operation Risk Act of 2015.” H.R. 2896 will reduce regulatory burden for financial institutions with lower risk profiles relative to systemically significant institutions by requiring financial regulators to take risk into account when promulgating regulations. Credit unions are precisely the type of institution which this legislation is meant to address; as member-owned cooperative institutions credit unions meet the financial services needs of their members while practicing prudent lending practices. Reducing regulatory burden has been atop CUNA’s list of priorities this Congress and this legislation is a positive step in that direction. To keep track of other regulatory relief legislation which CUNA supports check out our legislative digest and our legislative briefing document.