There’s a serious problem in Washington D.C. that is threatening to put credit unions and small community banks out of business.
What’s endangering our credit unions? Complicated regulations that were designed for big banks on Wall Street, not member-owned financial cooperatives on Main Street.
- Wall Street billionaires and Washington politicians rigged the system to benefit big national banks.
- The high cost of complying with these costly regulations makes it harder for consumers to get loans and other services from credit unions.
- Credit unions did not make the risky loans that caused the 2008 financial collapse, so NPM Credit Union members like you should not be forced to pay for the reckless conduct of the Wall Street banks.
A bipartisan group of U.S. Senators has introduced Senate Bill 2155, The Economic Growth Effort, to roll back unnecessary regulations on credit unions. You can learn more about the bill here.
It’s time for Congress to start working together for NPM Credit Union members like us. Click here to support the financial reform.