Statement on House Action on Credit Union Legislation

I am pleased that the House has passed the "Credit Union Membership Access Act" to protect and strengthen credit unions for the 71 million Americans who own, use, and rely upon them. This bill resolves uncertainty about the future of credit unions, created by a recent Supreme Court decision, by protecting existing credit union members and making it easier for credit unions to expand where appropriate. It also helps put credit unions on sounder footing by making important reforms that could pay enormous dividends in more difficult times. This bill ensures that consumers continue to have a broad array of choices in financial services, and, when Congress sends me this bill, I will sign it.