This month, The Economic Growth, Regulatory Reform and Consumer Protection Act was advanced in the U.S. Senate with strong bipartisan support.
In December, a Senate committee approved a bipartisan bill — co-sponsored by Maine Sen. Angus King and supported by Sen. Susan Collins — that would scale back arduous reporting and accounting regulations for credit unions and community banks.
In Louisiana, credit unions and small banks help our communities thrive and our small businesses grow. Our state’s dynamic culture and traditions are infused into the small businesses and institutions that serve as the backbone of our local communities.
Credit unions and other small financial institutions help our communities in Kansas thrive and grow. Small businesses that provide key services to consumers and serve as the backbone of our communities depend on credit unions and small banks to provide the loans they need to succeed.
The Economic Growth, Regulatory Relief, and Consumer Protection Act is a bipartisan, common sense approach toward needed regulatory relief. It’s targeted legislation that will help loosen the grip of regulations that affect Main Street financial institutions like credit unions.