The Ohio Credit Union League just received a hand-delivered letter from Sen. Sherrod Brown (D-Ohio) in support of the tax exemption.
While the credit union model is the most effective one for helping middle-class citizens improve their financial health, government officials should enact policies to enable credit unions to do even more, Wright-Patt CU President/CEO Doug Fecher told a Senate panel.
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.
Panel votes along party lines.
Wright-Patt CU CEO testifies at Senate Banking Committee subcommittee hearing.
Ohio CEO to appear at Senate Banking Committee subcommitte hearing on Tuesday.
A debit card fraud breach that began swarming Northeast Ohio in April is said to have affected tens of thousands of accounts and dozens of financial institutions, including at least seven credit unions.
Ohio League says breach shows how financial burden falls on credit unions, not retailers.
A key Senate subcommittee chairman criticized a provision of NCUA's corporate credit rule encouraging corporate credit unions to levy a fee to members that are not federally insured in order to pay for the rescue of the corporate credit union system.