WASHINGTON -- The Credit Union Regulatory Improvements Act (H.R. 1537) was up to 130 congressional backers last week.
Freshman Congressman John Hall (D-N.Y.) added his name to the bill Oct. 2, which has 129 co-sponsors plus primary sponsor Congressman Paul Kanjorski (D-Pa.) lined up behind it. The bill would establish a risk-based capital framework for credit unions, allow federal credit unions of all charter types to adopt underserved areas, and expand business lending powers. A hearing is expected in the House Financial Services Committee this fall.
The bill has been the focus of state league Hike the Hills and NAFCU's recent Congressional Caucus.