With the Consumer Financial Protection Bureau launch about a month away, credit union executives are expecting to spend more money and time complying with myriad of new regulations.
President Kennedy famously said after the Bay of Pigs debacle that “victory has a thousand fathers; defeat is an orphan.”
WASHINGTON — His predecessor had to lay people off and fight congressional efforts to dramatically increase the regulatory burden on credit unions.
Here's one of the articles that will appear in the next print edition of Credit Union Times.
Senate meeting this week only enough to prevent recess appointment of Warren to head of new CFPB.
Credit union trade groups are cautiously optimistic while Republicans are downright frustrated with the early moves of the new consumer bureau.
WASHINGTON — Treasury Secretary Tim Geithner criticized unnamed “dark forces” who are trying to undermine the implementation of last year's financial overhaul bill.
Two versions of form introduced by Elizabeth Warren in conference call, will get tested by consumers and brokers in six cities.
At press time, the House Financial Services Committee was close to passing a bill extending the National Flood Insurance Program for five years and three bills to make changes to the structure of the Bureau of Consumer Financial Protection.
Everybody in Congress and in the Obama administration say they are for consumer protection. However, in the debate over the new consumer bureau, it depends on what the meaning of “consumer protection” is.