New Version Of CURIA To BeIntroduced

SAN DIMAS, Calif. - (02/24/05) -- Congressman Ed Royce told creditunion leaders Wednesday he plans to introduce a new version of thecredit union regulatory relief bill, known as the CU RegulatoryImprovements Act, in the next few days and he expects thelegislation will have a better chance of passing Congress this yearthan it did in the last congress. Royce, speaking to the first CUSummit at the WesCorp FCU offices here, said this year's version ofthe bill will include a broad range of provisions, like raising thecap on member business lending from the current 12.25% of assets to20%, and allowing NCUA to devise a new risk-based capital standard.NCUA Chairman JoAnn Johnson, also speaking to the 120 Californiacredit union executives at the summit, said the agency has justreleased a new study supporting the need for a risk-based capitalsystem for credit unions.