Leagues in Georgia and New Jersey and credit unions in Florida and Maine are the latest credit union stakeholders to write in support of the Senate’s bipartisan regulatory relief bill, S. 2155, according to a CUNA article.
The Senate is currently in the process of considering the bill.
Mike Mercer, president of Georgia Credit Union Affiliates, called the bill a “boon to Main Street” in a letter to Valdosta CEO.
“Provisions in this bill would ease mortgage lending and free up capital for small businesses, two essential ways to grow an economy that has suffered from both a financial crisis and the regulations put in place in response to it,” Mercer wrote. “The regulatory relief this bill provides is a major step forward in moving away from a system that treats credit unions and community banks the same as the biggest banks.”