WASHINGTON -- The key sponsor of a bill to raise the cap on member business lending said today it won't be a part of a small business lending bill that the House will take up next week.
Preparing for the November mid-terms, CUNA is stepping up its grassroots advocacy this month with what it calls a refined "partisan communication" campaign aimed at getting CU members to have more direct involvement with candidates.
What if the opposition party gains control of parts of government?
The Senate last Thursday overcame strong Republican opposition and passed comprehensive regulatory overhaul legislation 60 to 39. All but one of the 58 Senate Democrats supported the measure, and all but three of the chamber's 41 Republicans opposed it.
House and Senate Conferees agreed to a final version of the financial reform legislation that includes controversial language mandating the Federal Reserve to set debit card interchange rates at a "reasonable level."
The provisions giving the Federal Reserve the right to set interchange fees came a step closer to reality last night when Senate members of the House-Senate conference committee on financial overhaul accepted an offer made by House conferees.
NAFCU President/CEO Fred Becker said he and his organization are "greatly disappointed," by the House's proposal on interchange fees that keeps most of the language in the Senate-passed amendment.
The Federal Reserve would still have the power to regulate interchange fees though credit unions and banks with assets of $10 billion or less would be exempt and retailers would be expressly forbidden from discriminating among card types.
Accounts of up to $250,000 at credit unions and banks would be permanently insured beyond the current expiration date of 2013, as a result of an amendment approved late yesterday by the House-Senate conference committee on regulatory overhaul.
House and Senate conferees today began the process of reconciling the two chambers' versions of the regulatory overhaul legislation.