House, Senate Banking Panels Took Divergent Paths
The House Banking Committee focused on oversight and trying to undo or modify some of President Obama’s initiatives while the Senate Banking Committee focused on less sweeping efforts in 2011.
Both panels paid some attention to credit union issues, though neither held an oversight hearing on the NCUA.
The Senate Banking Committee, as befits a panel controlled by Democrats, has focused less on regulatory burden and more on how to use government to relieve some of the financial burdens facing the middle class.
Wright-Patt CU President/CEO Doug Fecher told the panel’s subcommittee on Financial Institutions and Consumer Protection that he hopes the CFPB issues regulations that “empower consumers without adding to our regulatory costs.”