WASHINGTON — CUNA President/CEO Dan Mica has submitted a letter to four senators in response to their inquiry regarding financial services regulatory relief.
Senators Mike Crapo (R-Idaho), Jon Tester (D-Mont.), Tim Johnson (D-S.D.), and Chuck Hagel (R-Neb.) asked for financial services regulatory relief priorities to which CUNA responded last week. "It appears that these four senators may be beginning a process of looking at a comprehensive regulatory relief for financial institutions," Ryan Donovan, CUNA vice president of legislative affairs, said.
The letter listed the expansion of member business lending powers as the "top regulatory relief priority" for CUNA. "When Congress initially imposed these limits, there was a recognition that the cap would be examined in the future," Mica asserted.
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