WASHINGTON — Sen. Mary Landrieu (D-La.) has become the fifth co-sponsor of a measure that would provide comprehensive regulatory relief to credit unions.
Landrieu is backing the Credit Union Regulatory Improvements Act (S. 2957), which is sponsored by Sen. Joseph Lieberman (I-Connecticut). The measure includes risk-based capital reform and raises the member business lending cap from 12.25% to 20%.
Lobbyists for CUNA and NAFCU have said given the minimal amount of time left for legislative business this year, the prospects for Senate action on regulatory relief are uncertain, even though the House passed a less comprehensive measure last month.
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