WASHINGTON – NAFCU is working with lawmakers on a comprehensive regulatory relief package that would allow NCUA to mold new Consumer Financial Protection Bureau regulations to credit unions; allow NCUA to ease rules to equalize them with state rules; and modernize the Central Liquidity Facility; as well as old stand-byes like raise the cap on member business loans, allow credit unions to raise supplementary capital and allow all credit unions to add low-income communities to their fields of membership.

The NAFCU proposals were included in a letter sent this morning to leaders of the House and Senate who will be reviewing financial services reforms after they complete the current hearings on the 2010 Dodd-Frank Act, the effect of which has been a deluge of new regulations, according to the letter.

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