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FOR IMMEDIATE RELEASE

       

 For Further Information Contact:

State Representative David Craig              

(R-Town of Vernon) (608) 266-3363                                                            February 11, 2014

 

 Legislature Sends 2 Financial Services Bills Authored by Craig to Governor

Madison, Wis. – Today the legislature sent two financial services Right the Rules bills to Governor Walker for his signature. In response to the overwhelming support this important legislation received, the bills’ Assembly author, Rep. David Craig (R-Town of Vernon) issued the following statement:

“When I first ran to represent the people of the 83rd Assembly district, one of my top priorities was reforming our state’s regulatory climate to make it work better for Wisconsin’s businesses and citizens. These bills demonstrate that both parties can come together to enact common sense legislation that ensures basic protections exist for consumers while also allowing the free market to prosper.”

Assembly Bill 277 and Senate Bill 520 are two of the first pieces of legislation sent to the Governor as part of the Assembly’s Right the Rules project.

Authored by Rep. Craig, who chairs the Assembly Committee on Financial Institutions, and co-authored by the committee’s ranking member, Rep. Gordon Hintz (D-Oshkosh), AB 277 passed the Assembly on October 8, 2013. AB 277 is a compilation of input from Governor Walker’s Small Business Regulatory Review Board, the Wisconsin Department of Financial Institutions, various stakeholders and members of the Assembly Committee on Financial Institutions.

Authored by Sen. Frank Lasee (R- De Pere) and Rep. Craig, SB 520 brings many credit union and banking regulations into better parity with industry supported federal regulations in order to prevent a double layer of bureaucracy.  SB 520 was supported by the Wisconsin Office of Credit Unions, Wisconsin Department of Financial Institutions, various stakeholders and a bi-partisan majority of both the Senate and Assembly.

Rep. Craig represents the 83rd Assembly District which is comprised of portions of Waukesha, Walworth, Racine and Milwaukee Counties.

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