WASHINGTON — With the addition of Congressman John Hall (D-N.Y.), the Credit Union Regulatory Improvements Act (H.R. 1537) is up to 130 congressional backers.
The freshman representative added his name to the bill yesterday, which has 129 co-sponsors plus primary sponsor Congressman Paul Kanjorski (D-Pa.) lined up behind it. The bill would establish a risk-based capital framework for credit unions, allow federal credit unions of all charter types to adopt underserved areas, and expand business lending powers. A hearing is expected in the House Financial Services Committee this fall.
The bill has been the focus of state league Hike the Hills and NAFCU's recent Congressional Caucus.
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