CURIA Gains Another Co-Sponsor, Total Comes to 120

WASHINGTON – Another lawmaker has added their name to the list of co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 2317). Representative Duncan Hunter (R-Calif.), chairman of the Armed Services Committee, signed up in support of the bill that would provide credit unions with a more flexible prompt corrective action framework and expanded business lending powers, in addition to numerous regulatory relief items. Credit unions have garnered official support for CURIA from 120 lawmakers despite the banking groups’ objections. Though most of the relief items are also included in the House’s Financial Services Regulatory Relief Act (H.R. 3505), which has the potential to become law this year, that does not hurt CURIA’s chances, credit union lobbyists have said. The Senate Banking Committee had scheduled a markup May 4 on its draft of the overall regulatory relief bill. Credit union lobbyists have said issues relating to CURIA are expected to get a hearing in the House sometime this congressional session.