X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Looking back two years ago finds Fed Chairman Alan Greenspan advising the House Banking Committee that the Fed can no longer justify the $81,720 price tag of its “Annual Report to the Congress on Retail Fees and Services of Depository Institutions.” According to Greenspan the study is no longer needed because most consumers can get fee information over the Internet and a host of other places besides a survey. Consumer advocates meanwhile believe there is much more at stake than money and a reduction of paperwork if the fee study is eliminated. “It’s not about $80,000. I’ve seen the Fed’s garage. All they would have to do is sell one limo to make up that money,” said Ed Mierzwinski of the U.S. Public Interest Research Group. “I think they get too caught up in thinking all they do is monetary policy. But they are required to do more. These big merged banks have to be monitored and the survey is even more important today than when it first began. Also in that issue, CU Shopper unveiled its first “member-only” online shopping network -CUShopper.com. “Credit unions are the best deal out there”, said CU Shopper founder/Chairman Adam Wicks Walker. CUShopper has since gone out of business, and there is pending legislation that will not only keep the Fed fee study alive, but for the first time have it include CUs.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.