Durbin repeal to be removed from CHOICE Act

Late Wednesday, League sources were informed that the Durbin Amendment repeal being sought in the CHOICE Act would be removed from the legislation before being voted on the floor of the House of Representatives. Word is that the Speaker of the House, Paul Ryan, called Chairman Jeb Hensarling to inform him they would be pulling […]

Late Wednesday, League sources were informed that the Durbin Amendment repeal being sought in the CHOICE Act would be removed from the legislation before being voted on the floor of the House of Representatives. Word is that the Speaker of the House, Paul Ryan, called Chairman Jeb Hensarling to inform him they would be pulling the Durbin repeal provision from the CHOICE Act.

Unfortunately, the repeal was losing support each time it was brought up and had not gained any traction among the undecided votes. While this is a setback in our regulatory relief efforts, there are still plenty of opportunities the League and CUNA will look for to address this issue. Additionally, the CHOICE Act is still an effort at regulatory relief, and the LSCU expects it to receive a House floor vote next month.
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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.

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