WASHINGTON – Vermont Congressman Bernie Sanders, the House of Representatives’ only Independent, recently became the 62nd member of Congress to back the Credit Union Regulatory Improvements Act (H.R. 3579). Sanders also recently spoke out in favor of the credit union tax exemption in a statement he had inserted into the Congressional Record. CURIA would establish a risk-based system of Prompt Corrective Action for credit unions while expanding their member business lending authorities by increasing the cap on business loans from 12.25% of assets to 20% and raising the threshold for loans counted against the cap from $50,000 to $100,000. It would also not count loans to non-profit religious organizations against the cap.

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 © 2022 ALM Global, LLC. All Rights Reserved.