Elizabeth Warren, who is directing efforts to set up the new consumer agency, criticized those who want to weaken the agency before the ink on the bill is barely dry.
As the nation's budget deficit continues to grow, the government may be looking for new sources of revenue. Therefore, formerly sacred cows such as credit unions' tax-exempt status may go the way of VCRs and rotary phones.
After months of speculation, the NCUA revealed on Sept. 24 a "good bank, bad bank" plan to deal with corporate legacy assets.
WASHINGTON -- The woman leading the setup of the new Consumer Financial Protection Bureau said she hopes to work closely with credit unions and if "this thing works out right, consumers and credit unions will be on the same side of the line."
Guest blogger Charles Bruen, CEO of First Entertainment Credit Union, questions the choice of Elizabeth Warren to head up the formation of the Consumer Financial Protection Bureau.
WASHINGTON -- The woman leading the set up of the new Consumer Financial Protection Bureau said the agency hopes to work closely with credit unions and if "this thing works out right consumers and credit unions will be on the same side of the line."
After a last minute whirlwind of appeals to President Obama and Congress to consider legislation that would increase the member business lending cap, both CUNA and NAFCU are urging credit unions not to let up.
With several new economy recovery initiatives on the table, CUNA has once again urged Pres. Obama to consider how credit unions can aid small businesses.
Two more letters went out yesterday from NAFCU to key lawmakers urging the inclusion of language that would increase the member business lending cap.
The Consumer Financial Protection Bureau probably won't be up and running until early next year, but the NCUA, other agencies and the credit union trade associations are already starting to gear up.