Now comes the hard part. Former New York Governor Mario Cuomo famously said that “you campaign in poetry and govern in prose.”
On issues such as debit interchange and limiting the growth of future regulations, banks and credit unions are on the same side of the political divide. On others, such as credit unions’ tax-exempt status and raising the cap on member business lending, the industries’ interests diverge.
Two more credit union CEOs, one from Rapid City, S.D., and the other from Duluth, Minn., will be filling the so-called outreach slots on one of those Federal Reserve Board Advisory panels made of community bank and CU leaders serving district banks.
WASHINGTON — House Speaker John Boehner promised that the House will work hard to ease the regulatory burden so credit unions can lend more money and businesses can create new jobs.
WASHINGTON — House Financial Services Committee Chairman Spencer Bachus urged credit union advocates to lobby members of Congress, especially in the Sentate, to lessen the impact of the Federal Reserve's proposal on debit interchange.
Dover Federal Credit Union, Dover, Del., hired Lynne Schwab Schaefer in January as vice president of business services. The new division will provide the Delaware business community with lending and deposit options. Schaefer brings over 20 years of diverse banking experience, most recently with WSFS Business Banking, to her new...
A few credit unions have begun to detail the impact of the Federal Reserve's proposed cap on debit card interchange, telling the agency that its proposed rule will sharply hurt their bottom lines.
When practice fields across the land filled in August with players prepping for the upcoming new school year, a lending CUSO had already hit the field with a team of its own.
By the end of 2010, the banking industry is expected to have earned $35.4 billion in overdraft fee revenue, down from $37.1 billion in 2009 and on track with 2008, according to a recent Moebs Services study.
The Senate is expected to break its impasse on a small business lending bill--which includes a $30 billion fund to encourage community bank lending--but without a provision to raise the cap on member business loans from 12.25% to 27.5% of assets.