With their new majority in the House, Republicans are vowing to keep a close eye on regulators, and the Federal Reserve's regulation of interchange could well be one of the lawmakers' top priorities.
Credit unions will have to wait until next year to expand member business lending following yesterday's unsuccessful effort by Sen. Mark Udall to bring up the legislation in the waning days of the lame duck Congress.
Say farewell to the wisecracking, brainy lawmaker from suburban Boston and say hello to the soft-spoken, courtly former lumber company owner and trial lawyer from Birmingham, Ala.
Credit unions are watching what impact the tax compromise agreed to by President Obama and Republican leaders will have on their payroll operations.
NAFCU reminded credit unions they should contact both senators and U.S. House representatives over the congressional break to gather support for increasing the member business lending cap.
The combination of election-year politics and the desire of lawmakers not to have to choose between credit unions and community bankers have helped erect a series of roadblocks to raising the cap on member business lending.
The NCUA plans no discussion or action "at this time," on the agency report issued this week that supported the idea of secondary capital for credit unions, NCUA Chairman Debbie Matz said.
WASHINGTON -- For credit unions, Senate Banking Committee Chairman Christopher Dodd's proposed regulatory overhaul is both the best of bills and the worst of bills.
Though credit unions aren't directly involved in the health care debate, due to some parliamentary maneuvering they are likely to lose the ability to offer certain student loans.
Preemption of state laws and exempting more credit unions from examination by the new consumer regulator are key priorities of the credit union trade associations as a Senate panel begins marking up regulatory restructuring this afternoon.