WASHINGTON – Lawmakers apparently have rejected efforts by the credit union lobby to get provisions of the long-stalled CU Regulatory Improvements Act into the economic stimulus package rapidly moving through Congress.
The bill will provide cash tax rebates of up $600 per individual and $1,200 per family, but will not include an easing on member business loan restrictions, credit union service to the underserved, or capital standards–all CURIA provision that NAFCU and CUNA sought to get attached to the stimulus package.
“It was always a long shot,” Dan Berger, chief lobbyist for NAFCU, told The Credit Union Journal on Friday. “But we saw it as a perfect opportunity to help provide economic stimulus for the economy, as well as get some of the provisions of CURIA passed.”
Among other things, the stimulus package would send checks totaling $150 million this spring to 117 million families in an effort to promote consumer spending and reverse the slowdown in the economy.
