WASHINGTON — In a cooperative action, CUNA and NAFCU have jointly sent a letter to Senator Christopher Dodd (D-Conn.) chairman of the Banking, Housing and Urban Affairs Committee opposing an amendment authored by Senator Mike Crapo (R-Idaho) that would provide significant regulatory relief to banks but not credit unions.

Crapo filed his amendment in advance of a committee markup of a bill addressing the regulation of industrial loan companies. The measure would make more community banks eligible for an 18-month exam schedule, increase small business loans for thrifts, remove limitations on investments in auto loans and repeal the prohibition on banks offering interest on business checking.

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