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Legislation/Politics
House Panel Approves CU Carve Out on Systemic Risk Fund
November 20, 2009
Financial institutions with assets of less then $50 billion wouldn’t have to pay into a fund aimed at rescuing large companies deemed “too big to fail,” as a result of an amendment passed by the House Financial Services Committee yesterday....
Matz Urges Frank to Exclude Credit Unions From Systemic Risk Fund
November 18, 2009
Mandating that credit unions pay into a fund aimed at rescuing large financial institutions isn’t equitable and would hurt credit union members, NCUA Chairman Debbie Matz wrote in a letter to House Financial Services Committee Chairman Barney Frank....
Trades Increase Lobby Expenditures
November 18, 2009
With Congress actively pursuing regulatory reform, credit cards restrictions and further regulations on overdraft charges, among other subjects,...
Federation Hopes Seminar Helps Start Conversation About the Underserved
November 18, 2009
The National Federation of Community Development Credit Unions will sponsor what is it has called an “intensive seminar” on the Community Reinvestment Act and the NCUA’s data collection ...
Trades Endorse Amendment to Limit Systemic Risk Fund
November 17, 2009
CUNA and NAFCU are urging members of the House Financial Services to approve an amendment that would essentially exempt all credit unions from having to contribute to a proposed Stabilization Resolution Fund....
Pentagon FCU’s Pollack to Testify on Overdraft Bill
November 16, 2009
Pentagon Federal Credit Union President/CEO Frank Pollack is scheduled to be one of five witnesses to testify at Tuesday’s Senate Banking Committee hearing on legislation to restrict overdraft fees....
CUs Not Part Of Dodd Plan for Super Regulator
November 10, 2009
The NCUA would remain a separate agency and not part of a consolidated bank regulator under a regulatory overhaul plan unveiled today by Senate Banking Committee Chairman Christopher Dodd (D-Ct.)....
Trades Have Mixed Reaction to Dodd Regulatory Measure
November 10, 2009
CUNA and NAFCU are pleased that the NCUA would remain a separate agency but expressed concerns about several other provisions of the regulatory restructuring bill introduced by Senate Banking Committee Chairman Christopher Dodd (D-Conn.) today....
Dodd to Announce Reg Restructuring Plan Tomorrow
November 09, 2009
Senate Banking Committee Chairman Christopher Dodd (D-Ct.) is scheduled to announce his proposal for restructuring financial services regulation at noon tomorrow....
Obama Signs Legislative Fix to CARD Act
November 09, 2009
President Obama on Friday signed a bill giving credit unions and other financial institutions more flexibility on providing notification to consumers about non-credit card accounts....
Trades Urge CU Carve Out on Systemic Risk Fund
November 03, 2009
Credit unions with assets of over $10 billion shouldn’t have to contribute to the fund aimed at bailing out financial institutions deemed too big to fail, CUNA and NAFCU wrote the chairman of the House Financial Services Committee. ...
On-Site Coverage: Frank Throws Cold Water on CUs Request for Exemptions
November 03, 2009
WASHINGTON — House Financial Services Committee Chairman Barney Frank (D-Mass.) said today he opposed giving credit unions additional carve outs on the Consumer Financial Protection Agency and the Systemic Resolution Fund....
Senate Passes Legislative Fix to CARD Act
October 30, 2009
By unanimous consent, the Senate last night approved a measure giving credit unions and other financial institutions more flexibility on providing notification to consumers about non-credit card accounts. ...
NAFCU: Once A Month Overdraft Fee Overlooks All Parties Involved
October 30, 2009
A NAFCU representative told a hearing of the House Financial Services Committee that limiting overdraft fees to one a month per account would not be workable since credit unions and their members are not the only parties to an overdraft....
CUNA: Proposed Overdraft Legislation Will End Programs
October 30, 2009
A CUNA representative drew the House Financial Services Committee a stark picture of the difficulties many consumers would face if the Committee moved forward with proposed changes to laws regulating overdraft protection....