CURIA Gains Five Co-Sponsors, Total Nearing 50
WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 3579) gained five more credit union-friendly legislators who added their signatures to the bill recently. Representatives signing on the legislation included Republicans Ken Calvert of California and Don Young of Alaska and Democrats Shelley Berkley (Nev.), Jesse W. Jackson, Jr. (Ill.), and Ciro Rodriguez (Texas). CURIA's total co-sponsors now stand at 49, including the bill's original sponsor, Congressman Ed Royce (R-Calif.). H.R. 3579 has met strong opposition from the banking community, while credit union groups have rejoiced it. CURIA would expand credit union business lending, create a risk-based capital system, and allow credit unions to lease unused office space in low-income areas. "Congressman Bachus, chair of the Financial Institutions Subcommittee, both in our meeting with him and when he attended an event a day later, indicated that he is hoping to hold a hearing in his subcommittee on CURIA sometime in June, although, I would caution that it could slip into July," CUNA Vice President of Governmental Affairs and Senior Legislative Counsel Gary Kohn said. "But, it was very clear on his part that he does intend to do that indeed. "