X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 3579) gained five additional supporters in Congress recently. On May 5, Representatives Ed Case (D-Hawaii), Luis Gutierrez (D-Ill.), Marcy Kaptur (D-Ohio), Dale Kildee (D-Mich.), and Jon Porter (R-Nev.) added their names to the list of cosponsors. Cosponsors for CURIA now total 43, plus the bill’s primary sponsor, Congressman Ed Royce (R-Calif.), of 435 members of the House. “We’re very pleased by [the number of cosponsors]. This is the way the legislative process works,” CUNA Senior Vice President of Governmental Affairs John McKechnie said. He emphasized that many members of Congress do not know and understand credit union issues, so this year has been a major educational effort in the legislative “building block process.” He added, “Several members appear to be close to signing on.” NAFCU Director of Legislative and Political Affairs Brad Thaler said he too had heard that a number of legislators are considering signing on to the bill. In many cases, he said, “the legislative assistant has to get the boss to take a look at the bill.” Though more Democrats than Republicans have signed onto the bill, Thaler stressed, “We’ve gotten supportive comments from both sides of the aisle.” He added that some Republicans could be looking to see what the committee leadership does first. Though the leadership has not signed onto the bill right away, they have been supportive of the efforts, according to Thaler. H.R. 3579 includes many of the credit union-related provisions in the H.R. 1375, the Financial Services Regulatory Relief Act, plus expands credit union business lending authorities, allows credit unions to rent unused office space to groups in low-income communities, and modify Prompt Corrective Action to a risk-based system. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.