The Cheney Report


Reg Relief Hearing on Deck—We Are Ready

We’re set for the great opportunity presented by Wednesday’s House subcommittee hearing on regulatory relief. Interestingly, the last 12 times Congress has looked at this issue, hearings have been under the banner of “regulatory burden.” This is the first characterization as “relief.” It’s more than semantics—it signals the Financial Service’s Committee’s intent to move actual legislation, the first of its kind in years. Our witness, Pamela Stephens, CEO of Security One FCU, Arlington, Texas, plans to describe vividly the “crisis of creeping complexity” that credit unions have faced as rule changes pile up (nearly 160 since 2008, even before the CFPB issued its first regulation!).  Read the entire Cheney Report Here

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