Support S. 2155 and help NJ grow


Make text smaller Make text larger





In New Jersey, credit unions and small banks help our communities thrive and our small businesses grow. When credit got tight during the downturn, we were there as primary lenders, and we’re still the ones our communities turn to when they need mortgages and auto loans.

But small, local financial institutions are getting hammered by regulations designed for the far bigger firms that caused the financial meltdown. What is needed for Bank of America or Wells Fargo has little relevance to a credit union with one or two branches, with tellers who greet their members by their first name.

That's why more than 20 Senators from both sides of the aisle have put together a common-sense piece of legislation (S. 2155, The Economic Growth, Regulatory Relief, and Consumer Protection Act) that would allow credit unions and small banks to better serve consumers, while retaining tough protections on larger banks.

Provisions in this bill address some of the key economic issues facing New Jersey. It would -

• Make mortgage lending easier and free up capital for small businesses

• Grant credit unions parity with banks on certain types of apartment loans, helping investors provide low-income housing in underserved areas

• Help to protect seniors vulnerable to elder financial abuse

This bill is the farthest thing from the “gift to Wall Street” some opponents claim it is. Nothing in it helps the big banks. Nothing in this bill takes away important consumer protections put in place due to the actions of Wall Street and other bad actors.

We would urge Senator Menendez and Senator Booker to help New Jersey grow and support S. 2155 when it comes up for a vote.

David Frankil

President and CEO of the New Jersey Credit Union League



Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Panto Co. bringing Pinocchio to Newton
The Panto Company's Pinocchio is coming to The Newton Theatre. Pinocchio, the story of a wooden boy carved from the loving hands...
Read more »
Image

Center holds opioid art reception
NEWTON — The Center for Prevention & Counseling welcomed the public to the 3rd Annual Heroin & Opioid Art Reception Saturday, Oct 13.
Artwork depicting...

Read more »
Image

Antique Car Show draws hundreds to homestead
SPARTA- This past Sunday was packed with Fall fun as both the Sparta Historical Society’s 3rd Annual Car Show and their Van Kirk Homestead Museum Exhibit,...
Read more »
Image

Ann J. Truatt
Ann J. Truatt passed peacefully on Sunday, Oct. 14, 2018. She was 97 years old.
Ann is formerly of Woodcliff Lake, N.J., and Warwick, N.Y., and is survived by her son Frank...

Read more »

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST READ

Obituaries
Ann J. Truatt
  • Oct 16, 2018
Entertainment
Center holds opioid art reception
  • Oct 16, 2018
Entertainment
Panto Co. bringing Pinocchio to Newton
  • Oct 16, 2018

MOST COMMENTED



Find more about Weather in Andover, NJ