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Co-sponsors hit 145 before CURIA hearing
WASHINGTON (2/29/08)—One week before a scheduled hearing on the Credit Union Regulatory Improvements Act (CURIA, H.R. 1537), two more first-time co-sponsors signed on in support of the bill. Rep. Kathy Castor (D-Fla.) and Rep. Allyson Schwartz (D-Pa.) drove the number of official backers of the bill to 145. That number includes prime sponsor Rep. Paul Kanjorski (D-Pa.), who with Rep. Ed Royce (R-Calif.) introduced the bill March 25 in the 110th Congress. The House Financial Services Committee has set a hearing for March 6 on the need for credit union regulatory relief and improvements. Major discussion is expected to be devoted to CURIA provisions. CUNA Vice Chairman Tom Dorety, CEO of Suncoast Schools FCU, Tampa, Fla., will testify for CUNA. Other groups expected to testify include the National Credit Union Administration, the National Association of State CU Supervisors, the National Association of Federal Credit Unions and the American Bankers Association. The hearing is scheduled to take place on the final day of CUNA's 2008 Governmental Affairs Conference in Washington. Both CURIA chief sponsors Royce and Kanjorski will be addressing the GAC. CUNA VP of Legislative Affairs Ryan Donovan said the regulatory improvements likely to be discussed at the hearing will not be limited to those in CURIA. "We expect to discuss additional ways Congress can provide regulatory relief to credit unions," he said. "New ideas will be put on the table and we look forward to having that discussion with committee members."


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