Idaho Senator Crapo Headlines CUNA GAC Stage Tuesday
Credit union advocates heard key leader’s policy advancement agendas for 116th Congress.
Idaho Senator Mike Crapo took to the main stage during the third day of the Credit Union National Association’s Governmental Affairs Conference on Tuesday in Washington, D.C.
More than 5,000 credit union advocates are in attendance, including over 200 from Idaho, Oregon, and Washington.
Crapo (R-ID) was the architect of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), which passed last year and was the most significant federal legislation for credit unions in decades.
“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.”
Crapo, Chair of the Senate Banking Committee, sponsored the bill. A key provision reclassifies credit union loans on non-owner-occupied, 1-4-unit rentals as real estate, freeing up more capital for business lending. Read more about the Senator’s remarks here.
“Senator Crapo is an amazing leader who continuously rallies the cause of good public policy,” said Troy Stang, President and CEO of the Northwest Credit Union Association, in his introduction of the Senator. “He’s a true champion of consumers, and an advocate for common sense regulations.”