Texas Lawmakers Call For a Hearing on CURIA

WASHINGTON - A bipartisan group of Texas House members urged the Financial Services Committee to hold a hearing on the credit union regulatory relief bill, known as CURIA.

The group sent a letter to Barney Frank, the Democratic chairman of the committee, saying passage of the bill, which targets five areas for regulatory relief for credit unions, is the best thing Congress could do "for America's 89 million credit union members."

The letter singles out the underserved provision of CURIA, saying that 22 Texas credit unions have been told they can no longer add underserved communities to their fields of membership unless Congress restores the ability of community charters to do so. The credit union, wrote the Texas lawmakers, "are only a lawsuit away from losing the low-income communities they already serve."

The letter, which asks Chairman Frank to hold a hearing and a vote on the credit union bill, was signed by Democrats Solomon Ortiz, Eddie Bernice-Johnson, Silvestre Reyes, Ciro Rodriguez and Republicans Ted Poe and Ron Paul.