Blog: CUNA praises industry work of Rep. Perlmutter – Financial Regulation News – Financial Regulation News

Credit Union National Association (CUNA) officials are praising the efforts of Rep. Ed Perlmutter (D-CO) on behalf of credit unions after the lawmaker announced he would not seek re-election.

Perlmutter, who served in Congress since 2007 and was up for re-election in 2022, introduced the Secure and Fair Enforcement (SAFE) Banking Act enabling financial institutions to serve legal cannabis-based businesses. The bill passed the House of Representatives several times, and CUNA testified before both House and Senate committees in support of the bill.

“We thank Rep. Perlmutter for being a strong credit union champion throughout his time in Congress,” CUNA President and CEO Jim Nussle said. “His work on behalf of credit unions with members of Congress from both parties has helped credit unions and their members. We wish him and his family the best going forward.”

Additionally, the CUNA indicated Perlmutter aided the member expulsion modernization process in this Congress and previously introduced a measure providing National Credit Union Share Insurance Fund coverage for trust accounts signed into law in 2014.

“Ed has long been a champion of credit unions, not only in Colorado but nationally as well. Many times, he stood up to protect credit unions’ ability to serve their members, and he has been the leading voice in the fight to allow legal cannabis businesses access to financial services,” Scott Earl, president and CEO of the Mountain West Credit Union Association, said. “We have valued our relationship over the years, and on top of it all, he’s a really good guy. We wish Ed well in his retirement.”

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