WASHINGTON-Four new co-sponsors signed onto the Credit Union Regulatory Improvements Act (H.R. 3579). Representatives Tom Lantos (D-Calif.) and Loretta Sanchez (D-Calif.) added their names to the bill, as did fellow Californian Randy "Duke" Cunningham (R). Congressman Jeff Miller (R-Fla.) also added his name to the list. These four bring the total number of co-sponsors up to 59, plus the bill's main sponsor Congressman Ed Royce (R-Calif.). CURIA has received strong support from the credit union community and passionate opposition from the banking industry. In addition to providing regulatory relief for credit unions, nearly mirroring House bill H.R. 1375, the Financial Services Regulatory Relief Act, CURIA would expand credit unions' member business lending authority and establish a risk-based capital system. It also would permit credit unions to lease out property in underserved communities.
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