WASHINGTON — While efforts to provide regulatory relief for credit unions are stalled in the House, supporters received good news from the Senate on Thursday when Sen. Joseph Lieberman (I-Ct.) introduced the Credit Union Regulatory Improvements Act.
Its provisions include risk-based capital reform and an increase in member business lending cap from 12.25% to 20%.
"Through his (Lieberman's) action, consumers have the hope of more choices in services, as well as the promise of continued strength for the credit unions they own and direct," said CUNA President and CEO Dan Mica.
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