This week: Senate to vote on CU reg relief, House panel discusses data security

by NAFCU Newsroom

The House and Senate are both in session this week, with the Senate expected to vote on a NAFCU-backed regulatory reform bill that includes member business lending (MBL) and certain Home Mortgage Disclosure Act (HMDA) relief provisions.

The Senate took action Thursday to set the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) up for a potential procedural vote on the bill early this week, paving the way for potential Senate passage of the legislation before the end of the week.

NAFCU supports numerous provisions within the bill, including:

  • The Credit Union Residential Loan Parity Act, which would allow credit unions to treat loans for one-to-four-unit, non-owner-occupied dwellings that qualify for the MBL exemption as residential loans with lower interest rates – similar to how banks make these loans to small businesses.

 

continue reading »