WASHINGTON-Four new co-sponsors signed onto the Credit Union Regulatory Improvements Act (H.R. 3579). Representatives Tom Lantos (D-Calif.) and Loretta Sanchez (D-Calif.) added their names to the bill, as did fellow Californian Randy "Duke" Cunningham (R). Congressman Jeff Miller (R-Fla.) also added his name to the list. These four bring the total number of co-sponsors up to 59, plus the bill's main sponsor Congressman Ed Royce (R-Calif.). CURIA has received strong support from the credit union community and passionate opposition from the banking industry. In addition to providing regulatory relief for credit unions, nearly mirroring House bill H.R. 1375, the Financial Services Regulatory Relief Act, CURIA would expand credit unions' member business lending authority and establish a risk-based capital system. It also would permit credit unions to lease out property in underserved communities.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.