WASHINGTON — Co-authors of the Credit Union Regulatory Improvements Act–Congressmen Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.)–today announced the addition of Jane Harman (D-Calif.) as the 100th co-sponsor to the bill.
"The new bill would allow all credit unions to operate in such places that enable them to assist in community revitalization and economic renewal efforts," Kanjorski said. "Reaching the 100th cosponsor is a milestone, and I look forward to working with my colleagues to quickly pass this bill that has already garnered great bipartisan support."
"I am pleased that CURIA has attracted broad-based, bipartisan support in the House. In today's dynamic marketplace, credit unions must have a more modern and flexible regulatory structure. I look forward to joining with the many supporters of this legislation as we work towards that goal," Royce commented.
Upon hearing the news of the 100th co-sponsor, CUNA President/CEO Dan Mica stated, "Clearly, members of Congress are acknowledging that the credit union legislation is a measure that is worth their support–and vital to their consumer constituents."
"This much-needed legislation would allow credit unions to do more to help underserved communities, reform the current capital system for credit unions, providing for a risk-based approach to capital and would give credit unions the opportunity to help more small business owners by raising the arbitrary member business lending cap," NAFCU President/CEO Fred Becker said.
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