With their new majority in the House, Republicans are vowing to keep a close eye on regulators, and the Federal Reserve's regulation of interchange could well be one of the lawmakers' top priorities.
Say farewell to the wisecracking, brainy lawmaker from suburban Boston and say hello to the soft-spoken, courtly former lumber company owner and trial lawyer from Birmingham, Ala.
Thanks to the voters' decisions earlier this month, after a two-year hiatus we will be able to find out.
When Congress returns, credit unions can expect fewer consumer bills, tweaking the financial overhaul bill and new leaders of House and Senate committees that oversee credit unions.
As the fall campaign season kicks into high gear, CUNA's political action committee has $1 million in its coffers for upcoming political activities.
The combination of election-year politics and the desire of lawmakers not to have to choose between credit unions and community bankers have helped erect a series of roadblocks to raising the cap on member business lending.
CUNA and NAFCU often say that during the recent financial crisis their members wore the white hats.
The issue of regulating interchange fees will be one of the topics lawmakers have to deal with when the House-Senate conference committee meets today to reconcile the differences between the financial reform bills passed by both chambers.
WASHINGTON -- For credit unions, the upcoming House-Senate conference committee on the financial regulatory overhaul is coming down largely to interchange fee regulation.
Though credit unions aren't directly involved in the health care debate, due to some parliamentary maneuvering they are likely to lose the ability to offer certain student loans.