WASHINGTON — The Credit Union Regulatory Improvements Act (H.R. 1537) gained a freshman co-sponsor earlier this week.
Congressman Hand Johnson (D-Ga.) signed on as the latest lawmaker to co-sponsor CURIA, bringing the total supporters to 129, including primary sponsor Paul Kanjorski (D-Pa.). In the previous Congress, CURIA had garnered 125 over the two years; right now Congress is just weeks away from the scheduled adjournment of the first session of the 110th Congress.
CURIA would establish a risk-based capital framework, expand member business lending, and permit all federal credit union charter types to adopt underserved areas. It would also require a 30% voter participation requirement in credit union to mutual savings bank conversion, among other things.
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