Removing Barriers Blog

Letter of support sent for H.R. 3198, the Comprehensive Regulatory Review Act
Posted June 13, 2019 by CUNA Advocacy

CUNA wrote in support of the Comprehensive Regulatory Review Act (H.R. 3198) Wednesday, a bill introduced by Representatives Barry Loudermilk (R-GA) and Josh Gottheimer (D-NJ).

CUNA supports the Comprehensive Regulatory Review Act, which would amend 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 Consumer Financial Protection Bureau and NCUA, to review all existing regulations once every seven years.

It adds that, under current practice, NCUA voluntarily reviews regulations every three years, one-third every year.

“While CUNA supports this legislation, we acknowledge NCUA’s diligent regulatory review process and do not wish to see any legislation affect it,” the letter reads.