CURIA Introduced in 110th Congress
WASHINGTON--Congressmen Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.) introduced the Credit Union Regulatory Improvements Act at deadline last week.
H.R. 1537 contains provisions to establish a risk-based capital framework for credit unions and lift the member business lending cap to 20% as it did last year. "Based on the recent recommendations of the federal credit union regulator, these enhanced risk-based and prompt corrective action standards will ensure the efficient allocation of capital, while protecting taxpayers," Royce stated.