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Now on Board with CU Bill

WASHINGTON-Three more legislators jumped on as co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 3579), bringing the official number of supporters to 55, including the bill's primary sponsor Congressman Ed Royce (R-Calif.). On June 9, Representatives Grace Napolitano (D-Calif.), John Larson (D-Conn.), and Tim Bishop (D-N.Y.) added their names...

By Staff Writer | Updated on June 22, 2004

WASHINGTON-Three more legislators jumped on as co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 3579), bringing the official number of supporters to 55, including the bill’s primary sponsor Congressman Ed Royce (R-Calif.). On June 9, Representatives Grace Napolitano (D-Calif.), John Larson (D-Conn.), and Tim Bishop (D-N.Y.) added their names to the bill. “We’re pleased to see that number keep growing and we continue to urge our members and credit unions to contact their member of Congress and urge them to sign on in support of this important legislation,” NAFCU Director of Legislative and Political Affairs Brad Thaler said. CURIA, which faces strong opposition by the banking trade associations, would provide regulatory relief for credit unions in addition to raising the cap on member business lending to 20% and reforming Prompt Corrective Action. It would also allow credit unions to lease their unused office space in low-income areas. A hearing on the bill is anticipated for July.

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