WASHINGTON — Participants in recent America's Community Bankers' Government Affairs Conference asked a couple of the congressional speakers for their opposition to the Credit Union Regulatory Improvements Act.

Senator Jack Reed (D-R.I.) was first to field the question of whether ACB could count on his opposition to the bill. He responded that the issue of "a level playing field" between banks and credit unions is a perennial one. "It is good to be reminded they represent an additional challenge for community banks in America," he said.

When asked for his opposition, Congressman Patrick McHenry (R-N.C.), primary sponsor of the Credit Union Charter Choice Act in the 109th Congress, said he would oppose it at this time. "They've put in place a couple of things that would stop conversions," he highlighted, such as a minimum voter participation, which he said is not "necessary and proper." However, he did say there were some "good government things in there."

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