WASHINGTON-Credit unions hit a milestone last week when the Credit Union Regulatory Improvements Act (H.R. 2317) gained its 100th supporter. Congressman Curtis Weldon (R-Pa.) signed up to become the 99th co-sponsor to CURIA, which when added to main sponsor Congressman Ed Royce (R-Calif.) makes an even 100. Credit union lobbyists had been working toward that goal but intend to keep pushing even further. The legislation, which would create a risk-based capital system for credit unions and expand business lending powers, has met stiff opposition from the banking sector. Credit unions hope that the strong bipartisan sponsorship of CURIA will help get the provisions added into the overall regulatory relief legislation (H.R. 3505).
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