X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 2317) has garnered the support of 74 lawmakers. New to the bill since our last printing are Representatives Stephanie Herseth (D-S.D.), George Radanovich (R-Calif.), Al Wynn (D-Md.) and Ric Keller (R-Fla.). Herseth had also co-sponsored the bill in the 108th Congress. The credit union trade associations have been shouting from the rooftops that they have obtained more supporters for CURIA since it was introduced May 12 this year than they had in more than a year last Congress. “While this number is impressive and indicative of the increased energy within the credit union movement behind CURIA, it should not be taken as a reason to let up,” CUNA Senior Vice President for Governmental Affairs John McKechnie commented. He encouraged the state leagues and credit unions to use the July 4th district work period “as an opportunity to reach to those Members of Congress who are still undecided about CURIA co-sponsorship.” NAFCU Director of Legislative Affairs Brad Thaler added, “The odds of it becoming law by the end of this Congress is probably a long-shot. But, I think there are provisions of CURIA that could be included in regulatory relief legislation this Congress.” Increased co-sponsorship will help the chances of inclusion in the overall regulatory relief package currently being drafted. CURIA has had bipartisan support, but it does lean more toward the Democratic, or minority, side. “Regulatory relief has been very much a bipartisan thing. The bill has passed by wide bipartisan margins in the committee and in the House,” Thaler said. While he said the bill does have a strong Republican contingent, Thaler said many Republicans will wait and see what Committee Chairman Mike Oxley (R-Ohio) does; he rarely signs onto a bill that he has not authored, but he has been generally supportive, according to Thaler. “We have a lot of Democratic support, but we also have a lot of Republican support.It’s still relatively close,” CUNA Vice President for Legislative Affairs and Senior Legislative Counsel Gary Kohn noted. He indicated that last year at this time the margin was more than 2 to 1 Democrats. Thaler said that he is not aware of any flat out rejections to co-sponsoring the bill. [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.