The U.S. House of Representatives recently passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. This bill will provide regulatory relief to Main Street financial institutions including credit unions and community banks while maintaining regulations for Wall Street. See the full text of the bill HERE
Its signing would mean the process of getting mortgage loans from credit unions would be easier and more straightforward for consumers. It would adjust thresholds that ensure lending regulations intended to reign in Wall Street banks do the job without overburdening Main Street credit unions and small banks. It would change how credit unions designate certain apartment loans, freeing up capital for additional small business lending, and it would provide important safeguards against elder abuse, giving greater protections to some of the most vulnerable consumers of financial services.
Use the buttons below and please send your Congressman a message to say Thank You for passing this important piece of common-sense regulation reform.