"International branching for credit unions is not a one-way street. Cross-border activity goes both ways." - NASCUS President Doug Duerr speaking on the on-going discussions between NCUA, NASCUS and state regulators concerning allowing state-chartered CUs to operate international branches. "The unemployment rate and inflation, both of those are incredibly well-behaved. The Fed believes that because of tanking consumer confidence, the economy will slow down." - CUNA Chief Economist Bill Hampel explaining the Fed's motives behind its 50 basis points cut. "[The House Judiciary staff] was aware of the reaffirmation provision coming into play...and if that came into play, they would have supported keeping it in [during conference]." -CUNA Vice President of Legislative Affairs John McKechnie on the threat from Senator Jack Reed's (D-R.I.) amendment to remove credit unions' reaffirmation provision from the bankruptcy reform legislation. "We are not forecasting or anticipating a veto. That is simply, in fact, an option." -
NAFCU Senior Vice President and Legislative Counsel Bill Donovan said of President George W. Bush's objection to the Senate compromise on the homestead provision of the bankrutpcy reform bill.