Passed: My Bipartisan Legislation to Strengthen Southwest Michigan’s Economy
I am happy to report that my bipartisan legislation, the Credit Union Board Modernization Act, unanimously passed the House on February 10th!
Credit unions play a critical role in helping local small businesses access credit while expanding economic opportunity for families across all walks of life. This legislation will go a long way in providing necessary regulatory relief for credit unions in Southwest Michigan and around the country.
These commonsense reforms will allow federally chartered credit unions in good standing to be afforded the same reasonable governance practices that already exist at the state level. This means more resources can be used to strengthen small businesses and help strengthen our local economy instead of being used on duplicative regulations.
I’m proud to lead this bipartisan effort with Congressman Vargas and look forward to seeing these reforms enacted into law. The bill now heads to the U.S. Senate for consideration.