Three credit union witnesses testified April 10 in a House Financial Services Committee Financial Institutions Subcommittee hearing that rules and regulations mandated by the Dodd-Frank Act are interfering with credit unions’ ability to serve their members.
House, Senate both get measure that would create ombudsman outside NCUA.
New York Democrat said the move would inject much-needed funds into local communities when they need it most.
The Federal Housing Finance Agency, the regulator and manager of government-owned Fannie Mae and Freddie Mac, is poised to start to restructure the secondary mortgage market whether credit unions, banks or legislators are ready or not.
Panel to discuss how government policy at Fannie and Freddie played role in housing collapse and financial crisis.
CUANY says its hill hiking also prompted call from New York Sen. Schumer to primary sponsor Sen. Udall of Colorado.
Agency official tells House panel that it may consider allowing non-working spouses to obtain credit.
Rule called unfair to non-working spouses to undergo scrutiny.
Agency seeking comment on disclosures while moving toward added protections.
Measure's sponsors all Democrats in GOP-controlled House.