WASHINGTON — One of the credit union industry's champions onCapitol Hill has weighed with apprehension on the parts of the U.S.Treasury Department's related to credit unions and with guardedapproval of the other parts.
Representative Paul Kanjoski (D-PA) expressed apprehension aboutthe parts of the Treasury plan that impacted credit unions.
“There is a need to put credit unions on a level playing fieldwith other financial institutions in areas like capital standardsand business lending, but it should not come at the expense ofeliminating the current regulatory system, which has worked welland serves the financial needs of more than 90 million Americans,”Kanjorski said. “We must preserve and protect the uniquecooperative nature of the American credit union system.”
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