Barney Frank (D-Mass), chairman of the House Financial ServicesCommittee, told attendees at CUNA's Governmental Affairs Conferencethat they should celebrate the fact that the pending financialservices reform legislation does not include them at all.
"We are about to pass, I hope, the most significant overhaul offinancial regulation since the New Deal," Frank said when he spokeon Feb. 24 "And it will have no significant impact on creditunions."
Frank said they had worked hard to keep the NCUA as anindependent regulator for credit unions and imposing minimal fees."We judged that since you had not been part of the problem, youshould not have to pay for part of the solution," he said.
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.
