A HUGE WIN FOR CREDIT UNIONS!
by CUAD Staff
Communications
5/23/2018

CUAD is thrilled to announce that the U.S. House of Representatives has voted (258-159) to pass S. 2155, the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act that credit unions in the Dakotas and all around the country have been vigorously supporting. This is a huge win and one more step towards regulatory relief that will allow credit unions to better serve their members.

Thanks to the support of credit unions, including strong engagement of credit unions in North and South Dakota, the Senate voted to pass the bill in March. Now, with millions of social media impressions and more than 70,000 messages of support sent to elected officials’ offices through CUNA’s Member Activation Program (MAP), the bill has passed the House and is headed to President Trump for the final signature that would make the bill law.

The passing of S. 2155 through the House is a victory for credit unions and a clear demonstration that our face-to-face meetings with our elected representatives and our advocacy efforts through MAP are working. We encourage you to express your appreciation to SD Representative Kristi Noem and ND Representative Kevin Cramer for their support and votes that helped the bill pass in the House. Also, once again, we express our gratitude to ND Senator Heidi Heitkamp, who helped write and negotiate the bill and co-sponsor SD Senator Mike Rounds. We also thank SD Senator John Thune and ND Senator John Hoeven, who have been strong supporters of this bill.

 

Jeff Olson, President/CEO of CUAD stated, “This is a huge win for credit unions, not only in North and South Dakota, but all across the country. We have been seeking regulatory relief for several years, and the passing of this bill through Congress is proof that lawmakers are listening to our calls for common sense regulation – and are willing to work together in advancing common sense regulatory reform. This bill is proof that even in today’s political partisan environment, Congress can work together and pass good policy.”

Jim Nussle, President/CEO of CUNA, said, "CUNA, state credit union leagues, credit unions and credit union members all deserve a major round of applause for getting this historic bill through Congress and onto the president’s desk. From the moment a group of bipartisan Senators unveiled this bill, credit unions told them loud and clear that this is an essential piece of regulatory relief legislation that will improve access to mortgage lending, real estate loans and other products and services, while putting focus on senior abuse and cyberthreats. We thank that group of Senators, their colleagues who voted in favor of the bill, House leadership, and all the members of the House who supported S. 2155. The bill’s opponents fought hard, but these credit union champions stayed strong and stuck to their guns leading into a tough election year, and they deserve our thanks."

<< Go to Memo List