Number: RS22212
Title: Credit Union Regulatory Improvements Act of 2005 (CURIA)
Authors: Pauline Smale, Government and Finance Division 
Abstract: For the past several years, credit union representatives have asked Congress to increase their ability to serve their members by addressing the growing costs of regulatory compliance and by providing additional flexibility through regulatory reform measures. Omnibus legislation that would reduce existing regulatory requirements on all depository financial institutions was enacted on October 13, 2006. P.L. 109-351 contained four of the credit union specific relief provisions addressed in CURIA. The law does not address two major issues covered by H.R. 2317, prompt corrective action and member business loan restrictions. Credit union representatives remain committed to the passage of all of the provisions of H.R. 2317. This report provides background on the legislation and congressional interest in regulatory relief.
Pages: 6
Date: March 9, 2007