WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 2317) has gained 12 more co-sponsors within just a few weeks of its May 12 introduction. Democrats Tammy Baldwin (Wis.), Jane Harman (Calif.), Maurice Hinchey (N.Y.), Dale Kildee (Mich.), Barbara Lee (Calif.), Michael Michaud (Maine), Richard E. Neal (Mass.), C.A. “Dutch” Ruppersberger (Md.), Tim Ryan (Ohio), and Bart Stupak (Mich.) signed onto the bill May 19, as did Republicans John McHugh (N.Y.) and C.L. `Butch' Otter (Idaho). CURIA had 29 co-sponsors at press time. The most recent version of this bill provides numerous regulatory relief measures, as well as expands credit unions' member business lending authorities and establishes a risk-weighted capital system for credit unions. Sixty-nine lawmakers backed the legislation last Congress, and chief sponsor Ed Royce (R-Calif.) has said he expects more for this year. CUNA and NAFCU have whole-heartedly supported the bill.
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