Idaho Senator Crapo Addresses CUNA GAC

Senator Mike Crapo (R-ID) took the main stage at the CUNA Governmental Affairs Conference Tuesday, and thanked credit union advocates for supporting the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155).

“This bill was the largest regulatory rollback for Main Street financial institutions in nearly a decade, passed with broad, bipartisan support and signed into law in May 2018,” Crapo said. “The law’s primary purpose is to make targeted changes to simplify and improve the regulatory regime for community banks, credit unions, midsize banks, and regional banks to promote economic growth.”

Sen. Crapo, Chair of the Senate Banking Committee, sponsored the landmark bill. A key provision of the legislation classifies credit union loans on non-owner-occupied, 1-4 unit rentals as real estate. That provision will free up capital for small business loans.

Troy Stang, your Association’s President and CEO had the honor of introducing Crapo.

“Senator Crapo is an amazing leader who continuously rallies the cause of good public policy,” Stang said. “He’s a true champion of consumers, and an advocate for common sense regulation.”

Senator Crapo outlined his legislative goals for the 116th Congress.

“A major priority is addressing our broken housing finance system, which is the last significant piece of unaddressed business following the financial crisis,” Crapo said. He also identified data privacy as a critical mission this year.

Read Senator Crapo’s remarks here.

Posted in Advocacy on the Move.