Jim Nussle, Credit Union National Association president/CEO, released the following statement after Sen. Tim Scott (R-SC) introduced S. 2702, the Business of Insurance Regulatory Reform Act this evening to clarify the Consumer Financial Protection Bureau’s (CFPB) regulation of insurance products.
“The Business of Insurance Regulatory Reform Act is a common-sense piece of legislation that would bring more clarity to the regulation of insurance products,” said President/CEO Jim Nussle. “Credit unions support the efforts of the bipartisan group of cosponsors who are seeking to rectify the CFPB’s authority on this matter and thank Sen. Scott for introducing this bill.”
CUNA sent this letter to Senators Scott, Manchin, Baldwin, and Rounds in support of the bill.