Brad Sherman actually said...

We need parity for credit unions, both as to the level of depositor insurance and as to access to liquidity facilities.

The banks are not doing what we need them to do. We need them to make business loans.

Under the Current Expected Credit Losses (CECL) system, we penalize every bank, every time they make a good business loan.

If we want clarity, let's just make it clear, and the industry should lobby for this, that the SEC has full jurisdiction.