WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 2317) gained three new co-sponsors even as the House Ways and Means Committee held a hearing on the credit union tax exemption. Michigan Representatives John Conyers (D) and Thaddeus McCotter (R) signed their names to the bill Nov. 3, as did Representative Solomon Ortiz (D-Texas). Total congressional support now stands at 104, including primary sponsor Congressman Ed Royce (R-Calif.). The vote of confidence that credit union powers should be expanded is significant given the Ways and Means Committee hearing questioning whether credit unions are going beyond serving their original mission.
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