Thaler rallies CUs as NAFCU sets sights on more reg relief

by NAFCU Newsroom

NAFCU Vice President of Legislative Affairs Brad Thaler is calling on credit unions to contact their representatives and senators this week and urge them to support even more regulatory relief for the industry now that the NAFCU-backed Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) has become law.

Thaler’s message comes as the House and Senate are out of session and legislators are working in their home districts and states. Thaler points credit unions to NAFCU’s Grassroots Action Center, which has more information about the critical issues NAFCU is working on and contact information to set up meetings with lawmakers.

NAFCU is currently working with Congress for at least a delay of the NCUA’s risk-based capital (RBC) rule to be included in legislation this year. In recent weeks, NAFCU efforts have led to the inclusion of language to delay the implementation of the RBC rule by two years in two major pieces of legislation: the House Appropriations Financial Services and General Government’s appropriations bill, and the Foreign Investment Risk Review Modernization Act of 2018 (H.R. 5841).

The language included in both bills comes from the Common Sense Capital Relief Act (H.R. 5288), which was introduced by Reps. Bill Posey, R-Fla., and Denny Heck, D-Wash., in March. NAFCU President and CEO Dan Berger recently met with Posey and Heck to thank them for their ongoing efforts to protect the industry from the adverse effects of this rule.

 

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