WASHINGTON – The Credit Union Regulatory Improvements Act (H.R. 2317), which has proven controversial yet popular among lawmakers, has found yet another supporter in the federal legislature.
Congresswoman Janice Schakowsky (D-Ill.) added her name to the growing list of CURIA co-sponsors. Total co-sponsorship now stands at 121.
The bill would provide a number of regulatory relief items, as well as establishing a risk-based capital framework for credit unions and expanding business lending powers.
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The American Bankers Association began a full frontal assault on the bill last fall with a call for all members to write their lawmakers in opposition to it and followed up with their March Madness basketball-themed campaign to stop the credit union madness. All the banking trade associations have spoken out against it.
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