House To Vote CU Merger Fix

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WASHINGTON - (06/13/05) -- The House is expected to votepassage Monday of a bill that will redefine net worth for creditunions in order to allow credit unions to continue combining theirnet worth after merging. The measure will effectively exempt creditunions from a pending Financial Accounting Standards Board rulethat will bar so-called 'pooling' of capital after mergers.However, the accounting rule fix still has a long way to go becauseit has not been introduced in the Senate, which tends to takelonger to act on these kinds of bills.

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