While the credit union model is the most effective one for helping middle-class citizens improve their financial health, government officials should enact policies to enable credit unions to do even more, Wright-Patt CU President/CEO Doug Fecher told a Senate panel.
Testifying at an Oct. 4 hearing of the Senate Banking Committee's subcommittee on financial institutions and consumer protection, he expressed hope that the new Consumer Financial Protection Bureau issues regulations that "empower consumers without adding to our regulatory costs."
Fecher noted that his credit union's hometown of Dayton, Ohio has lost 33,000 jobs during the recession and that "the need for our services has never been greater."
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