Calling him someone who has a "deep understanding of how jobs are created and how to grow the economy," President Obama today named JPMorgan Chase Midwest Chairman William Daley to be the new White House chief of staff.
JPMorgan Chase may soon have a friend in the West Wing.
Assistant Treasury Secretary Michael Barr, who oversees the department's work on credit unions, banks and other financial institutions, plans to leave office by the end of the year to return to academia.
A draft proposal of a report by a presidentially appointed deficit reduction panel includes an option that would eliminate many tax exemptions, including the one for credit unions.
The Consumer Financial Protection Bureau probably won't be up and running until early next year, but the NCUA, other agencies and the credit union trade associations are already starting to gear up.