WASHINGTON — Credit union issues are on lawmakers' radarscreens, even in the midst of one of the tightest election seasonsin memory.


Congressman Emanuel Cleaver's (D-Mo.) office confirmed last weekthat he has told main sponsor Ed Royce (R-Calif.) that he will besigning onto the Credit Union Regulatory Improvements Act (H.R.2317). Though the House is in recess right now, everything will bemade official during the lame duck session after the elections.Congressman Bill Pascrell (D-N.J.) was also announced as a futuresponsor during NAFCU's Congressional Caucus, but he had not beenofficially added to the list before the recess. With these two,total sponsorship will reach 125 members of the House. However, ahandful will be dropping off because they will not be returning tothe House next session. Original co-sponsor Bernie Sanders (I-Vt.)is running for the Senate, however, if he wins as expected, he hadpromised to introduce CURIA in the Senate. Twelve-term CongressmanSherwood Boehlert (R-N.Y.) has announced his retirement.Congressman Ed Case (D-Hawaii) lost the Democratic Senate primarythere to incumbent Senator Daniel Akaka (D-Hawaii). CongressmanButch Otter (R-Idaho), who was even featured in a print adsupporting credit unions, gave up his seat to run for governor asdid Jim Gibbons (R-Nev.). CURIA includes a number of the creditunion provisions from the regulatory relief bill just signed intolaw and more even than the original House bill (H.R. 3505) had tooffer for credit unions. The bill includes a new risk-based capitalstructure for credit unions as well as expanded business lendingpowers.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.