WASHINGTON -- The Credit Union Regulatory Improvements Act (H.R. 1537) as of last week enjoys the support of 80 total co-sponsors after a dozen more lawmakers signed on.
Representatives Kendrick Meek, (D-Fla.), Daniel Lipinski (D-Ill.), Anna Eshoo (D-Calif.), Adam Schiff (D-Calif.), Brian Higgins (D-N.Y.), Tim Holden (D-Pa.), Don Young (R-Alaska), Susan Davis (D-Calif.), Carolyn Kilpatrick (D-Mich.), and Peter Hoekstra (R-Mich.) returned this Congress to once again join the growing list of members of Congress officially backing CURIA. New to CURIA this year are Financial Services Committee Member Albio Sires (D-N.J.) and freshman Jason Altmire (D-Pa.), who serves on the Small Business Committee.
CUNA Senior Legislative Representative Debbie Kwon Moore predicted early last week, "We expect a few more to be coming on shortly." Credit union lobbyists have been stressing the importance of gaining co-sponsors as a show of support for the bill to push it through Congress over the bankers' objections.
"We'll continue to push to gain support for CURIA," NAFCU Director of Legislative Affairs Brad Thaler said.
The bill would establish a risk-based capital framework for credit unions, expand member business lending, and set a 30% minimum voting requirement for mutual savings bank conversions and require a member meeting before balloting. --firstname.lastname@example.org