CEO Testifies On Behalf of CURIA

Register now

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.

For reprint and licensing requests for this article, click here.