CRANFORD, N.J. — With five members of the New Jersey Congressional delegation signed as co-sponsors of CURIA, support work of the New Jersey Credit Union League is getting noticed by the banking lobby.
"We remain concerned about the traction for this bill," declared James M. Meredith, senior vice president of the 80-member New Jersey League of Community Bankers and who was quoted on the topic in a state business publication.
Meredith told Credit Union Times "when bills like CURIA get introduced again and again" a momentum builds and that can remain troubling, particularly when CURIA is such ill-drawn legislation.
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He said his independent banker trade group joined by the New Jersey Bankers Association remains committed to defeating CURIA as injurious to "the level playing field" and giving tax-exempt CUs major business loan advantages.
The article in the June 25 issue of NJBIZ and headlined "Federal Credit Union Bill Raises Bankers' Hackles" also quoted Chris Abeel, director of government affairs for the league defending the bill, and the CEO of NJBA, John McWeeeny, charging the place for CUs is to focus on the underserved and "not making business loans and financing commercial real estate."
Abeel said the fact that bankers are alarmed about CURIA requires CUs to "redouble our efforts to build support, and thank those who have already shown their support for signing onto the bill."
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