Freedom Caucus’ First-100-Days Plan Targets CU Biz Lending Rule

The House Freedom Caucus on Thursday released its plan for the first 100 days of the next administration, which includes a detailed list of more than 200 rules and regulations it will target for rollback. Among these are the National Credit Union Administration’s controversial member business lending rule, which significantly loosened the limitations on business lending by credit unions by allowing them to circumvent congressionally imposed lending caps. ABA strongly opposes the rule, and is currently supporting a lawsuit filed by the Independent Community Bankers of America challenging the rule’s legality.

Other items recommended for removal include the FDIC’s deposit recordkeeping final rule; the margin and capital requirements for covered swap entities; and an executive order establishing the Export-Import Bank as the official export creditor of the U.S.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.