Woods’ letter to Post & Courier urges support for bipartisan reg. relief bill
Wednesday, December 20, 2017
"The commonsense fixes in S. 2155, the “Economic Growth bill,” would be a boon to our local economy while retaining tough protection for consumers," shared South Carolina Federal Credit Union CEO Scott Woods in a letter to Post and Courier on Monday.
S. 2155 was introduced by a bipartisan group of senators and co-sponsored by 23 senators from both parties, including Senators Thom Tillis (R-NC) and Tim Scott (R-SC). Most recently, the bill passed in the Senate Banking Committee with a 16-7 vote, again with bipartisan support.
Woods, who also serves on the board for the Credit Union National Association (CUNA), thanked Senator Scott for his "support and leadership in bringing these wins to the Palmetto State" and also urged other senators to support the bill.
"The regulatory relief this bill provides is a major step forward in moving away from a system that treats credit unions and small banks the same as the biggest banks, and into a more tailored regulatory climate that gives credit unions, the original consumer protectors, ways to more efficiently serve their members," Woods emphasized.
The Carolinas Credit Union League continues to support the bill and has been working with CUNA to support its nationwide grassroots campaign for commonsense regulation.
Credit unions are encouraged to engage in the League’s Voter Voice campaign to ask your senators to support the regulatory relief bill and to thank bill co-sponsors Senators Tillis and Scott for their support.
The busyness of the holiday season is very much a business. We race from King Street in Charleston to Main Street in Summerville gathering gifts for those we hold dear, but unintentionally overlook the fortitude of small business owners to make these conveniences and traditions possible.