Simpson, Senate Banking Committee chairman discuss credit union issues

Fundamental credit union issues, including advancing legislation, were the topic of discussion between America’s Credit Unions President/CEO Scott Simpson and Senate Banking Committee Chairman Tim Scott, R-S.C., Wednesday. As committee chair and a former credit union board member, Scott has supported several credit union issues, including his support of the Credit Union Board Modernization Act, S.522.

“Meeting with Chairman Scott underscored his deep commitment to credit unions and the members we collectively serve. Our partnership with Chairman Scott and the Senate Banking Committee is key to ushering through legislative priorities for our credit unions that will drive impact for years to come,” Simpson said.

Simpson highlighted America’s Credit Unions’ continuing support for a fully staffed and independent NCUA and the need for statutory CFPB reform to ensure credit unions are not unfairly expected to meet burdensome regulatory requirements intended for the largest banks.

Scott spoke at the Governmental Affairs Conference earlier this year, where he discussed the need for right-sizing regulations with Carolinas Credit Union League Senior Vice President of Advocacy Billy Boylston.