Credit unions portray themselves on Capitol Hill as well-managed, conservative financial institutions. It's not clear whether the necessity for the NCUA to rescue several corporate credit unions will change that reputation.
he Senate last Thursday passed pass a small business lending bill-which includes a $30 billion fund to encourage community
What if the opposition party gains control of parts of government?
The death of West Virginia Democratic Senator Robert Byrd this morning has left it unclear when, or perhaps if, the current financial regulatory reform package passes from Capitol Hill this week.
WASHINGTON -- Credit unions last week received a ray of good news on their goal of raising the cap on member business loans.
Lawmakers were trying at press time to iron out a bipartisan agreement on legislation to overhaul the way financial services are regulated.
Now the action goes back behind closed doors.
WASHINGTON -- For credit unions, Senate Banking Committee Chairman Christopher Dodd's proposed regulatory overhaul is both the best of bills and the worst of bills.
Preemption of state laws and exempting more credit unions from examination by the new consumer regulator are key priorities of the credit union trade associations as a Senate panel begins marking up regulatory restructuring this afternoon.
CUNA wants any consumer financial products regulator not to have any examination powers for any credit union while the ABA wants no new consumer regulatory agency.