WASHINGTON — In a cooperative action, CUNA and NAFCU havejointly sent a letter to Senator Christopher Dodd (D-Conn.)chairman of the Banking, Housing and Urban Affairs Committeeopposing an amendment authored by Senator Mike Crapo (R-Idaho) thatwould provide significant regulatory relief to banks but not creditunions.

Crapo filed his amendment in advance of a committee markup of abill addressing the regulation of industrial loan companies. Themeasure would make more community banks eligible for an 18-monthexam schedule, increase small business loans for thrifts, removelimitations on investments in auto loans and repeal the prohibitionon banks offering interest on business checking.

“While we recognize the intent of Crapo amendment #4 to the ILCbill, we do not support it as submitted because we believe it isunbalanced by including provisions which would increase thebusiness lending limits and auto lending investment limits forthrift institutions while providing no parallel increase in creditunion business lending caps or modification of the credit unionprompt corrective action system to a risk-based approach,” theassociations wrote in their Feb. 12 letter.