CU Leaders Focus on Tax Exemption and Regulatory Relief at Hike the Hill 

Thirty Hike the Hill participants met this past month in Washington with members and staff from both of Michigan's Senate offices and 13 of the state’s U.S. House member offices. Key meetings included in-person discussions with Ways and Means Committee Chairman Dave Camp and ranking member Sander Levin. Several members agreed to cosponsor two industry-backed regulatory relief bills, which aim to amend recently issued qualified mortgage, privacy notice and other Dodd-Frank-related regulations. Michigan's three members of the House Financial Services Committee (Reps. Bill Huizenga, Gary Peters and Dan Kildee) are interested in how they can further assist with regulatory relief for community lenders. The MCUL asked for their cosponsorship and support of current regulatory relief legislation and stated that we will continue to identify specific issues that could be addressed this session through legislation. Support for the CU tax exemption was communicated by a large majority of Michigan's congressional delegation. Several members also provided or committed to provide public statements in support of the credit union tax exemption.
 


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