WASHINGTON-"Congress is truly listening to America's credit unions like never before," NCUA Chairman Dennis Dollar told attendees of NAFCU's Congressional Caucus last week who were awaiting visits with their lawmakers. Dollar told his audience that "the 13 (provisions in the regulatory relief bill) together make a very positive package." But it would be nice to have a couple of additions to H.R. 1375, which the chairman said he knew would not make it in the bill this session. He explained that when Congress imposed the 12.25% cap on credit unions' member business lending authorities, it did not believe that all credit unions should be involved. Dollar agreed with that assessment but added that other credit unions should have the power to go beyond that. "Someone has to be the source of those small business loans and many credit unions could be that source," he stated. As he has in the recent past, he also raised his idea for risk-based Prompt Corrective Action. Dollar added that lawmakers, in certain instances (like providing NCUA greater flexibility to respond to the dynamic marketplace), need to "take away the congressional mandate and return it to us, the regulators." Dollar also pointed out that this is an area where banks and credit unions should be working together to pass the bill, which includes dozens of provisions for banks and thrifts. The banking industry's objections to the credit union provisions have reportedly been holding up a vote on the bill in the House. A bill has not even been introduced in the Senate, but Senate Banking Committee Chairman Richard Shelby (R-Ala.) has expressed an interest in it. One area where credit unions are working hand-in-hand with banks is bankruptcy reform, he noted. While there is a legitimate need for bankruptcy protection, Dollar added that those who can repay some or all of their debts should. According to CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn, Senator Chuck Grassley (R-Iowa) is expected to push for passage of the bill by the end of this session. If that does not happen, he added that Senate Judiciary Chairman Orrin Hatch (R-Utah) may try to bring the Senate back to work on the bill early next year. [email protected]