Key Credit Union Related Election Results

Aside from CURIA co-sponsors here is a look at some important election results for credit unions. Note that just because a member of Congress won, doesn’t mean that’s good news for credit unions. Won * Senator Chuck Grassley (R-Iowa), key leader in bankruptcy reform. * House Financial Services Committee Chairman Mike Oxley (R-Ohio). * House Financial Institutions and Consumer Credit Subcommittee Chairman Spencer Bachus (R-Ala.), also Judiciary committee member. * House Small Business Committee Chairman and Financial Services Committee Member Donald Manzullo (R-Ill.). * Representative Shelley Moore Capito (R-W.V.), authored Financial Services Regulatory Relief Act (H.R. 1375). * House Financial Services Committee Ranking Member Barney Frank (D-Mass.). * Senate Banking and Judiciary Committee Member Charles Schumer (D-N.Y.). His abortion amendment continues to stall bankruptcy reform. * House Ways and Means Committee Chairman Bill Thomas (R-Calif.) was uncontested in his re-election bid. He has raised the idea of tax hearing for non-profits. * Senate Banking Committee Chairman Richard Shelby (R-Ala.). Shelby came out early in favor of CU tax exemption. * Senate Banking Committee Member Mike Crapo (R-Idaho). Crapo is drafting financial services regulatory relief legislation in Senate. * House Judiciary Committee Chairman Jim Sensenbrenner (R-Wis.), a leader for bankruptcy reform. Lost * Senate Minority Leader Tom Daschle (D-S.D.) lost to former Congressman John Thune (R). Daschle was one of the more prominent Democratic bankruptcy reform supporters. * Representative Max Burns (R-Ga.), a longtime credit union member and supporter, lost to Athens-Clark County Commissioner John Barrow (D) * Long-time credit union ally Congressman Phil Crane (R-Ill.) lost to Businesswoman Melissa Bean (D).