Dept. of Treasury report outlines reg relief

The Department of the Treasury released a report Monday outlining more than 100 changes to financial regulations. CUNA is analyzing the report. “We are carefully reviewing the Treasury’s report. Based on our initial review, the report appears to reflect input that we gave the administration in meetings and other engagements, and it shows that that the […]

The Department of the Treasury released a report Monday outlining more than 100 changes to financial regulations. CUNA is analyzing the report.

“We are carefully reviewing the Treasury’s report. Based on our initial review, the report appears to reflect input that we gave the administration in meetings and other engagements, and it shows that that the administration understands that credit unions need common-sense regulations,” said CUNA President/CEO Jim Nussle. “For too long, the one-size-fits-all rules meant for Wall Street have been hurting Main Street’s financial sector. We appreciate that the Treasury Department recognizes that credit unions know how to lend and promote economic growth in their communities, and we will continue to work with policymakers to improve the operating environments for credit unions and their members.”
The majority of the changes would be made at the regulatory level, not through legislation. Recommendations include requiring tailored regulations, changes to the Consumer Financial Protection Bureau, risk-based capital requirements and more. Read the full report here.
Written by
admin
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.