NCUA Chairman Debbie Matz renewed her call for supplemental capital for credit unions in a letter to the Senate Banking and House Financial Services Committees.
Credit unions, banks and other supporters of making changes to the interchange rule have a friend in Rep. Barney Frank (D-Mass.), the top Democrat on the House Financial Services Committee.
The House Financial Services Committee plans to discuss how the government can encourage job creation and what impact the rising debt has on the economy at its first hearing of the new Congress next Wednesday.
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.
Rep. John Boehner (R-Ohio) was elected the 61st Speaker of the U.S. House of Representatives today as the 112th Congress began work.
Saying the Fed's proposed interchange rule could have "tragic consequences" for credit unions, their members and any debit card user, CUNA President/CEO Bill Cheney today asked the House Financial Services Committee to hold hearings.
House Financial Services Committee Chairman-Elect Spencer Bachus (R-Ala.) will speak at CUNA's Governmental Affairs Conference, the association announced.
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.
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.
The House Financial Services Committee is shrinking.