Testifying on behalf of CUNA last week, a credit union CEO urged Congress to add more provisions from the Credit Union Regulatory Improvements Act (CURIA) to a broader-based relief bill it is currently considering.
Phil Buell, CEO of Superior FCU in Lima, Ohio, told a House subcommittee hearing on the Financial Services Regulatory Relief Act that any regulatory improvements measure approved by Congress should include a risked-based capital standard for credit unions and an increase in their member business lending limits. He said Congress should either remove an MBL cap or adopt the 20% of assets ceiling proposed by CURIA. During his testimony, Buell did not respond to critical comments about credit unions made earlier by representatives of the American Bankers Association.
