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Your League continued its advocacy efforts on S. 2155 - the Economic Growth, Regulatory Relief and Consumer Protection Act by signing a letter sent by the Credit Union National Association (CUNA) on behalf of leagues and credit unions to Senate leadership encouraging the bill's movement in the Senate. "As we have stated previously, this bill contains important regulatory relief and reform for including granting credit unions parity with banks when making loans for the purchase of one-to-four unit, non-owner occupied residential property loans. We have had a significant role in getting the bill to this point with Senator King being a lead co-sponsor, and are working with both Senators King and Collins to move this bill forward," remarked Todd Mason, President of the Maine Credit Union League.
In the letter sent to Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer, CUNA and leagues wrote, "On behalf of America's credit unions, we are writing to encourage you to allow debate on an important legislative compromise on regulatory reform for community financial institutions to proceed to the floor of the Senate. It is so important to seize the opportunity before us, and help bipartisan regulatory reform legislation successfully move through an otherwise broadly divided Senate. In particular, we want to express our strong support for S. 2155, legislation that represents a significant breakthrough in bipartisan negotiations, and contains many provisions that would improve the operating environment for credit unions and allow them to more effectively help their members realize their financial goals."
Mason said the League's participation in signing the letter represents "the high priority we place on this bill, and having it heard by the full Senate. We will continue to work with CUNA and our Delegation to do whatever we can to make this happen."
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