WASHINGTON — The ranks of supporters of the Credit Union Regulatory Improvements Act grew Thursday when Rep. Todd Akin (R-Mo.) became the measure's 149th co-sponsor.
Akin, a fourth-term member from suburban St. Louis and a senior member of the Small Business Committee has long been a backer of credit unions. During one debate on whether to remove the tax-exempt status he wrote then-Ways Means Committee Chairman William Thomas "Taxing credit unions would be a tax on consumers."
Credit unions have been trying to get CURIA (H.R. 1537), which includes risk-based capital reform and raises the member business lending cap from 12.25% to 20%, for several years. The House is scheduled to vote Tuesday on a less comprehensive regulatory reform measure for credit unions, the Credit Union Regulatory Relief Act, which contains some provisions of CURIA.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.