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SAN DIEGO-California Congressmen Ed Royce (R) and Brad Sherman (D) spoke to credit union officials recently during NAFCU’s CEO Conference. Royce was “very, very clear, in expressing his commitment to the credit union provisions contained in H.R. 1375 as well as to the provisions that augment title III of 1375 in the [Credit Union Regulatory Improvement Act] that he and Congressman Paul Kanjorski introduced,” according to NAFCU General Counsel Bill Donovan. Royce, the chief Republican sponsor of CURIA (H.R. 3579), pointed out that his bill raised “more serious issues” than the generic regulatory relief items, including risk-based capital and member business lending restrictions. The congressman was optimistic about committee hearings this year on the bill. Sherman stated that he was “proud” to be a co-sponsor of CURIA, Donovan said. Sherman also said that secondary capital for credit unions is an important issue that needs to be addressed and he hopes the General Accounting Office’s study will be concluded by May. – [email protected]

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