WASHINGTON – The House Financial Services Committee yesterday scheduled a hearing on credit union regulatory relief for March 6.
The hearing will be on several regulatory relief proposals, including CURIA, which has provisions to enact a risk-based capital system for credit unions, lift business loan limits, allow community chartered credit unions to branch into underserved communities, and make it tougher for credit unions to convert to mutual savings banks.
Representatives from NCUA, NAFCU, CUNA and NASCUS are expected to testify at the hearing.
Separately, Pennsylvania Rep. Paul Kanjorski, one of the chief sponsors of CURIA, is preparing to introduce a new regulatory relief bill for credit union as soon as today without the provision to raise business loan limits, which is the most contentious issue for the banks.
