WASHINGTON — Primary CURIA Co-sponsor Congressman Ed Royce (R-Calif.) urged credit unions to continue to push for co-sponsors to the Credit Union Regulatory Improvements Act.
Just last week, Congressman Sander Levin (D-Mich.) joined the 124 other representatives co-sponsoring the bill, while NAFCU announced during its Congressional Caucus that Congressman Bill Pascrell (D-N.J.) had committed to co-sponsor the legislation as well. "Modernization of credit union regulation is important to economic growth," Royce said. He explained that gaining co-sponsors would help push the bill through the House and onto the next step in the legislative process.
He emphasized that CURIA is proactive, rather than reactive, like the legislation passed following the S&L crisis. "CURIA would implement the new [capital] system when the credit union system is strong," Royce explained.
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Even though "support in Congress has grown markedly," he noted, "most landmark financial services bills take time" he reminded attendees. –[email protected]
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