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Berger: NAFCU ready to work with Clinton, Trump on credit union regulatory relief

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU’s Dan Berger reiterated the heavy toll regulatory burden takes on credit unions and their 104 million members in letters Thursday to presidential nominees Hillary Clinton and Donald Trump, and he noted the association’s willingness to work with both parties in this regard.Berger, NAFCU’s president and CEO, thanked Clinton for her support in wanting to cut regulatory red tape for credit unions, as noted in her recently released platform for small business and fact sheet for supporting credit unions.“Credit unions have faced a tidal wave of new regulatory burdens in recent years,” Berger wrote in his letter to Clinton, which was also sent to Democratic vice presidential nominee and Virginia Sen. Tim Kaine. “We are pleased to see your commitment to tailoring regulations and cutting down on regulatory creep.”In his letters to both nominees, Berger pointed out that since the second quarter of 2010, more than 1,500 federally-insured credit unions have been lost. “Many smaller institutions simply cannot keep up with the increased regulatory expectations and have been forced to merge out of business,” he wrote. “There is an urgent need for meaningful regulatory relief and better tailoring of regulations to help credit unions.” continue reading »last_img read more

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