Daniel Weickenand, CEO of the $531 million Orion FCU in Memphis, Tenn., said low margins and risk forced him to discontinue non-QM loans.
WASHINGTON —The Dodd-Frank Act has added so many new regulations to financial institutions, it's creating job demand for compliance officers.
WASHINGTON — Two members of Congress used their speeches at NAFCU’s Congressional Caucus to deliver news that advances the cause of raising the cap on member business loans.
The Hispanic community will “suffer a significant burden,” if Congress and regulators don’t study the unintended consequences of the Durbin amendment to regulate debit interchange fees, Hispanic Chamber of Commerce President/CEO Javier Palomarez conveyed to Senate leaders.
Overturning a proposed debit interchange cap on legal grounds may set a precedent against exempting credit unions from future regulations that affect large banks and other financial institutions.
Credit unions lost one of their strongest congressional allies this year and will have to deal with more Republicans in both the House and Senate next year.
Rep. Shelly Moore Capito (R-W.Va.) will chair the House subcommittee that has oversight over credit unions and other depository institutions, incoming Financial Services Chairman Spencer Bachus (R-Ala.) announced today.