WASHINGTON — Members of Congress officially supporting CURIA rose to 124 after Congress returned to session last week.
Two freshman Democrats, Patrick Murphy (Pa.) and Mazie Hirono (Hawaii), quickly signed up to co-sponsor CURIA upon returning from the August district work period. Co-sponsors now total 123 plus primary
sponsor Congressman Paul Kanjorski (D-Pa.) making 124 legislative backers.
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CURIA would create a risk-based capital framework for credit unions, increase the member business lending ceiling from 12.25% of assets to 20%, and allow non-multiple common bond credit unions to adopt underserved areas. It would also raise the minimum voter participation in conversions to mutual savings banks from a simple majority of those voting to a majority of 30% of the membership, require a special membership meeting, and prohibit incentives to vote.
A hearing in the House Financial Services Committee is still expected for this fall.
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