WASHINGTON - Senate Minority Leader Mitch McConnell threw cold water on the likelihood that the Senate might revisit the interchange amendment that was passed as part of last year's financial overhaul bill.
Sen. Kay Bailey Hutchison (R-Texas), a member of the Senate Banking Committee, announced today that she won't seek re-election in November 2012.
Rep. Barney Frank, the top Democrat on the House Financial Services Committee, invoked images of the Wild West in blasting efforts by Rep. Michele Bachmann (R-Minn.) to repeal the financial overhaul bill passed last year.
Rep. Michele Bachmann (R-Minn.) is seeking cosponsors for her legislation to repeal the Dodd-Frank financial overhaul bill that Congress passed last year.
Rep. John Boehner (R-Ohio) was elected the 61st Speaker of the U.S. House of Representatives today as the 112th Congress began work.
House Financial Services Committee Chairman Barney Frank expressed concern to the Federal Reserve that regulations limiting interchange fees could increase the regulatory burden on credit unions and other small financial institutions.
The House Financial Services Committee is shrinking.
A bipartisan group of 13 senators urged Federal Reserve Chairman Ben Bernanke in a letter sent yesterday to ensure that when the Fed issues regulations on debit interchange fees they don't hurt small financial institutions and consumers.
What the trade associations and certain credit union leaders can't accomplish, President Obama and Congress might be able to achieve.
A draft proposal of a report by a presidentially appointed deficit reduction panel includes an option that would eliminate many tax exemptions, including the one for credit unions.