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.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
