The new Consumer Financial Protection Bureau doesn’t even begin operations until July and already CUNA and NAFCU and some on Capitol Hill are pushing for changes in how much power it has and what its structure will be.
CUNA will endorse putting a credit union member on a five-member board that some lawmakers are proposing to run the Bureau of Consumer Financial Protection, and will support allowing a council of regulators to overturn bureau decisions by a majority vote.
NAFCU will endorse GOP-backed legislation to have the new Consumer Financial Protection Bureau governed by a five-member board and allow its decisions to be overturned by majority vote of a council of regulators.
WASHINGTON — Interchange is the tip of the regulatory burden iceberg.
Outsourcing is all the rage in the federal government these days
Congress hasn't scrutinized the NCUA's handling of the problems at corporate credit unions very much.
A law passed by Congress giving the NCUA the power to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury sparked an industry discussion about the agency's assessment process.
President Obama today signed a measure allowing the NCUA to pay directly into the Temporary Corporate Credit Union Stabilization Fund.
The NCUA will be able to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury Department as a result of legislation passed by the House on Wednesday night.
A Senate-passed bill allowing the NCUA to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury Department could be taken up by the House tomorrow.