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Miller Relief Bill Introduced In House

House Financial Services Committee Vice Chairman Gary Miller (R-Calif.) introduced long anticipated legislation today, H.R. 2572, that would provide regulatory relief for credit unions and community banks.
Miller's bill focuses on credit unions and topics discussed within its section range from such things as some enhancements to National Credit Union Administration authority, to improved capital standards for credit unions, to a cost-benefit analysis of rules, past and present.
"Credit unions wholeheartedly thank Rep. Miller for acting on their great need for regulatory relief so fewer resources are diverted from their true business of serving their members," Sam Whitfield, Credit Union National Association vice president of legislative affairs, said as CUNA welcomed the bill. He added CUNA's appreciation that Miller included CUNA in the development of his legislation.
Miller's bill will likely be joined by other regulatory relief legislative initiatives coming out of the financial services panel this year.

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Tags: H.R. 2572, regulatory relief

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