To modernize credit union net worth standards, advance credit union efforts to promote economic growth, and modify credit union regulatory standards and reduce burdens, and for other purposes.


Credit Union Regulatory Improvements Act of 2007 - Amends the Federal Credit Union Act to reduce the minimum net worth ratio requirements of credit unions.

Revises the minimum risk-based net ratio for such capitalizations.

Transfers from the federal banking agencies to the Federal Deposit Insurance Corporation (FDIC) the authority to adjust the net worth levels of credit unions.

Instructs the National Credit Union Administration Board (Board) to design the risk-based net worth requirement to take account of material risks to insured credit unions that are taken account of by comparable standards applicable to FDIC-insured institutions.

Establishes a temporary waiver of the net worth restoration plan requirement for an undercapitalized credit union which attains its status due to a major natural or man-made disaster.

Revamps requirements for limits and restrictions on member business loans.

Authorizes credit unions to lease to any business enterprise separate and clearly distinct space in credit union office buildings in underserved areas.

Authorizes the Board, in specified circumstances, to encompass within credit union membership any person or organization within an underserved local community, neighborhood, or rural district.

Permits a credit union to invest in securities for its own account.

Increases the investment and lending limit in credit union service organizations.

Exempts certain voluntary mergers involving multiple common-bond credit unions from the numerical limit for eligibility within the field of membership category of a credit union.

Directs the Board to prescribe criteria for continued membership of certain member groups in the case of certain credit union conversions to a community charter.

Includes just cause as grounds for expulsion from membership.

Authorizes term limits for board members of federal credit unions.

Revises voting requirements for credit union conversions to mutual savings banks.

Amends the Clayton Act to exempt from its pre-merger notification and waiting period requirements any mergers of one insured credit union activities with another which require agency approval under the Federal Credit Union Act.

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