WASHINGTON – Praising credit unions for their work on behalf of working Americans, Senate Banking Committee Chairman Christopher Dodd (D-Connecticut) said today that "I regret you are paying the prices for errors made by others."

During a speech at CUNA's Governmental Affairs Conference he said there needs to be strong changes in the way financial services are regulated to police the bad practices by some companies and to reverse years of "regulatory neglect."

Although he did not address regulatory issues of specific concern to credit unions, he said any changes would reflect his belief that "economic growth and consumer protection are not antithetical."

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:

  • 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
NOT FOR REPRINT

© 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.