WASHINGTON-Like basketball legend Michael Jordan to Hanes, the representatives sponsoring the Credit Union Regulatory Improvement Act (H.R. 3579) are seeking NCUA’s endorsement of the bill. Congressmen Ed Royce (R-Calif.) and Paul Kanjorski (D-Pa.) have written a letter to NCUA Chairman Dennis Dollar requesting NCUA to provide its opinion of H.R. 3579. Dollar has publicly spoken positively of the legislation. The chairman’s Special Assistant for Media Affairs Nick Owens said NCUA would be responding shortly after the first of the New Year, after deadline. Additionally, last month CUNA sent a letter to Royce and Kanjorski and the two other original sponsors of CURIA, Steve LaTourette (R-Ohio) and Carolyn Maloney (D-N.Y.), thanking them for their initiative. “As you know, credit unions remain the most highly regulated and restricted of all insured financial institutions, particularly after the passage of the Credit Union Membership Access Act in 1998.” CUNA President and CEO Dan Mica wrote. “Let me reassure you that this measure is consistent with the mission of credit unions and the principles of safety and soundness and will make a significant impact on America’s credit unions in a constantly changing, dynamic financial marketplace.” Mica also offered CUNA’s assistance as needed.

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