WASHINGTON-A scheduled markup of the Financial Services Regulatory Relief Act (H.R. 3505) has ramped up the obvious divides between the banks and credit unions on the matter. The credit union community has been lobbying hard to get portions of the Credit Union Regulatory Improvements Act (H.R. 2317) inserted into H.R. 3505, which was scheduled for mark up by the House Financial Services Committee last Thursday. In a joint letter to committee members, four banking trade groups expressed their disdain for credit union efforts to add the risk-based capital and member business lending provisions of CURIA into the overall regulatory relief bill. "CURIA would greatly expand credit unions' business lending authority while also weakening credit union capital regulation by lowering required minimum capital levels," the letter-signed by the American Bankers Association, America's Community Bankers, the Independent Community Bankers of America, and the Financial Services Roundtable-read. "The current lending limits and required capital levels were mandated by Congress just a few years ago to ensure that credit unions remained true to their mission in a safe and sound manner. These proposed modifications, if passed, would be major changes to the credit union charter, and they raise serious safety and soundness concerns. They should not be considered during markup of this bill. "We urge you to support balanced regulatory burden relief by passing H.R. 3505 and opposing any attempts to add H.R. 2317 to the underlying text." The groups emphasized that they did support H.R. 3505 in its form at press time, prior to the markup.