House passes NAFCU-backed reg cost-reduction bill

first_imgThe House on Tuesday voted 250 to 175 to approve H.R. 185, legislation supported by NAFCU that would require the least-cost implementation of federal rules.Titled the “Regulatory Accountability Act of 2015,” H.R. 185 was introduced last Wednesday by House Judiciary Committee Chairman Bob Goodlatte, R-Va., and Rep. Collin Peterson, D-Minn. In addition to least-cost implementation, it would encourage more public input on rulemaking and restrict the use of interim rules implemented without notice and comment.NAFCU and 160 other financial trades wrote House members Monday urging passage of H.R. 185. The bill will now move on to the Senate.Industry trades, including NAFCU, urged swift passage. “Our members believe that regulations need to be narrowly tailored, supported by strong and credible data and evidence, and impose the lowest possible burden while still implementing Congressional intent,” they wrote.NAFCU is pushing its message of “enough is enough” as it continues to pursue a decrease in credit unions’ regulatory burden – H.R. 185 would help inch closer to that goal. continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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