3 Senate bills that could strengthen credit union mortgage lending

Maybe if they had enacted these measures years ago the Dems might still control Congress. At least it might send a message to the newly elected Republicans that it’s “PEOPLE FIRST” that will keep them in office.

Justice League

Credit unions are enduring a crisis of creeping complexity with respect to regulatory burden, and the Credit Union National Association believes at least three bipartisan bills currently before the U.S. Senate could alleviate some of that drag.

The ever-increasing, never-decreasing regulatory burden erects barriers to their ability to serve their members, particularly in the mortgage space, CUNA says.

“The enactment of these bills would represent a small step in the right direction toward removing barriers to credit union service,” said Jim Nussle, president of CUNA. “As the Senate reassembles for the remaining weeks of the 113th Congress, we urge passage of these important bills.”

The 113th Congress could, despite its lame duck status, pass these bills before the Christmas recess and the swearing in of the 114th Congress in 2015.

Read on.

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