NCUA Seeking Reg Relief Provision On SEC License

NCUA is working with lawmakers to get a new provision added to the regulatory relief bill expected to be introduced in the House over the coming weeks. Those provisions would expand the Gramm-Leach-Bliley Act's exemption from broker-dealer SEC licensing to credit unions. The exemption is currently afforded banks and thrifts CUA Chairman Dennis Dollar is scheduled to testify on the agency's regulatory relief priorities during March 27 hearings before the House Financial Services Committee, along with the National Association of State CU Supervisors, and banking regulators.