The language of the 2007 Credit Union Regulatory Improvements Act
(CURIA, H.R. 1537) carries changes from previous, similar bills, differences
that may attract broader support for the measure, according to Dean Sagar,
CUNA's vice president of legislative affairs.
Often referred to by its acronym of CURIA, the new Credit Union
Regulatory Improvements Act of 2007 [H.R. 1537] combines a series of regulatory
enhancements that will allow credit unions to operate more effectively and
efficiently. Specifically, CURIA modernizes credit union net worth standards;
advances credit union efforts to promote economic growth; and modifies credit
union regulatory standards by eliminating unnecessary, burdensome and outdated
regulations, as well as making other needed reforms to credit union oversight
and governance.
Before these changes can help your members,
we have to work hard to pass this important piece of legislation. We need
everyone to contact their Representatives and ask them to co-sponsor HR
1537.
The more co-sponsors we can get to either re-sign
onto CURIA or sign on for the first time, the greater impact there will be to move this legislation forward.
