WASHINGTON -- Six more lawmakers have signed on as co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 1536).
Representatives Ric Keller (R-Fla.); Gregory Meeks (D-N.Y.); Russ Carnahan (D-Mo.); Michael Michaud (D-Maine); Howard Berman (D-Calif.); and John Salazar (D-Colo.) added their names to the list for a total of 53 members of the House officially backing CURIA. The bill achieved 125 co-sponsors in the 109th Congress.
This year's version brings the proposed risk-based capital provisions more in line with the bank's framework, further expands credit union business lending, tightens credit union-to-mutual savings bank conversion standards, and re-authorizes all federal credit union charter types to adopt underserved areas, among other things.
CURIA's authors, Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.), circulated a "Dear Colleague" letter Tuesday, encouraging other members to co-sponsor the legislation. "The new CURIA is greatly improved and builds upon recommendations made by many experts, including credit union regulators and executives," the letter reads. "We are also very pleased that the new CURIA has been endorsed by the Credit Union National Association and the National Association of Federal Credit Unions."