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In This Issue… • Greetings from Guy • House, Senate leaders release text of final tax reform bill • House Financial Services Committee advances several industry-supported bills • Information courtesy Compliance Alliance … • OBA education corner …

The following information shows the result of a recent poll conducted by Morning Consult, The poll was conducted at the request of the American Bankers Association.  Here are the results: 1. Voters are largely not aware of the fact that credit unions pay no federal income tax; 2. It is not appropriate for a tax-exempt industry to spend millions of …

Late Tuesday afternoon, the Senate Banking Committee voted to advance S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act to the full Senate for consideration. It was a strong bipartisan vote: 16-7, including four of the 11 Democrats on the Committee. “A small group of us began working on this concept about four years ago or so,” said …

In This Issue… • Let our senators know to support reg relief bill • House Financial Services Committee mark-up today • California wildfires continue to rage; CBA asks for help • OBA education corner …

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Late Tuesday (Dec. 5) afternoon, the Senate Banking Committee voted to advance S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act to the full Senate for consideration. It was a strong bipartisan vote: 16-7, including four of the 11 Democrats on the Committee.  “This is the first regulatory relief effort to make it out of Committee since Dodd-Frank was enacted in …

 In case you missed it, Lower East Side People’s Federal Credit Union filed suit against the President and Acting CFPB Director, Michael Mulvaney, alleging that Mulvaney’s appointment violates the constitution. The credit union has $55 million in total assets. It’s CEO alleges that Deputy Director Leandra English is the proper and only lawful Acting Director of this massive regulatory agency that is not …

 As you know by now, there’s good news for community bankers at the CFPB:  In addition to the fact that Richard Cordray is no longer the Director of the Consumer Financial Protection Bureau, (he has just announced his long-anticipated candidacy for Governor of Ohio), it seems pretty clear that the President’s selection of Mick Mulvaney as Acting Director is going …