WASHINGTON – Congress may make credit unions swallow some bitter medicine to go along with the sugar.
The House of Representatives has scheduled a vote on Thursday on a measure to keep the level that deposits are insured at $250,000 but would also allow judges to rewrite the terms of mortgages during bankruptcy proceedings.
CUNA and NAFCU both oppose this so-called "cram-down" provision and said inclusion of the share insurance provision and other measures that benefit credit unions don't negate the adverse effects of cram-down.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
