Kanjorski Pushes CUs to Push CURIA

WASHINGTON-The more the merrier was the message Congressman Paul Kanjorski (D-Pa.) had for NAFCU’s Congressional Caucus when it comes to CURIA cosponsors. “In recent months, we’ve had some strong movement on CURIA…I always think of credit unions as something that transcends parties and philosophies,” he said. “We have 96 co-sponsors. We’d like to have 100,” Kanjorski said. He continued, “If we do that, it will put us in good stead for hearings on the bill.” He explained that high co-sponsorship demonstrates to other members of Congress that the issue is important and it is moving. He said he was pleased to see that Senator Hillary Clinton (D-N.Y.) is a big supporter of the credit union movement over banks. Now, Senator Richard Shelby (R-Ala.), the Banking Committee chairman, just needs to be persuaded to back Prompt Corrective Action reform contained in CURIA. “The way capital is counted today is really unfair. All we’re saying is let’s get their capital a little closer to other institutions,” Kanjorski said. The Pennsylvania lawmaker also emphasized his support of the 20% minimum voter turn out requirement for mutual savings bank conversions contained in CURIA. If you cannot get “10% plus one” you should not be converting, Kanjorski stated. Credit unions are a powerful voice on the bill and their calls will not go unheard, he encouraged his audience. “When a credit union member or officer calls a [member of Congress'] office, you do get heard,” Kanjorski said. Regarding Senate support for CURIA, he said he was “hopeful of intellectual conversion” but declined to specify what or who the hang up was. HR 1151 required “a great deal of compromise” but now it is time to “technically correct” it, he concluded. [email protected]