CURIA Update: 65 Lawmakers Now Back the CU Bill

Pending Elections, Limited Time Don’t Hinder CURIA Co-sponsorship as Two More Sign On WASHINGTON-With upcoming elections and congressional adjournment about a month away, two more lawmakers have signed on as co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 3579). Congressmen Dana Rohrbacher (R-Calif.) and Dan Burton (R-Ind.) were the first members of Congress to throw their support behind the bill following the August recess, bringing the total number of lawmakers supporting it to 65. The bill enjoys bi-partisan support and although these two latest co-sponsors are Republican, most of the recent co-sponsors have been Democrats. The bill would expand credit union small business services, establish a risk-based capital structure, and provide other items of regulatory relief. It was introduced at the end of 2003 and is not likely to pass this year, but is expected to be revived in the next Congress.