WASHINGTON -- The co-sponsorship of the Credit Union Regulatory Improvements Act (H.R. 1537) has grown to 104, including primary sponsor Paul Kanjorski (D-Pa.), in just the first three months.
Wayne Gilchrest (R-Md.), John Larson (D-Conn.), Jerry Lewis (R-Calif.), and Gus Bilirakis (R-Fla.) recently joined the list of co-sponsors, bringing total support for CURIA to 104. Lewis and Bilirakis are new to the bill this year, while Gilchrest and Larson are returning co-sponsors.
"We're pleased to see continued growing support and growing bipartisan support for the legislation," NAFCU Director of Legislative Affairs Brad Thaler stated. He also noted NAFCU's postcard campaign by their membership in support of their efforts to help gain co-sponsors for the bill.
CURIA would establish a risk-based capital system similar to the banks', increase credit union business lending authorities, permit all federal credit union charter types to adopt underserved areas, and provide other regulatory relief items while tightening consumer protections in mutual savings bank conversions.