At a time when it’s difficult to convert deposits to loans, does it make sense to open the door to an additional flow of money into a credit union?
Ohio appears to be the next battleground for the credit union push to accept public funds with bills being readied in both chambers of the state legislature next week.
On a party-line vote, the Senate Banking Committee voted to confirm former Ohio Attorney General Richard Cordray to be the first director of the Consumer Financial Protection Bureau.
Substantive discussions of regulatory policy and partisan wrangling were both on the front burner at the Senate Banking Committee’s hearing last week on the nomination of Richard Cordray to run the Consumer Financial Protection Bureau.
Nominee says CFPB regulations will be helpful to financial institutions and level the playing field.
Regulatory overreach, an unnecessary limit on credit unions' choices and possibly illegal. Those are among the critiques of the NCUA's proposed rule on corporate credit unions.
Ohio credit unions pressed their case with state lawmakers this week to pass an enabling bill on depositing public funds in CUs, an issue which continues to draw fierce opposition from the banking lobby.