WASHINGTON — When Rep. Barney Frank (D-Mass.) retires after this current Congressional session, credit unions will gain "the best friend they've ever had" in the House.

That's because Rep. Maxine Waters (D-Calif.) will take over as the ranking Democrat on the House Financial Services Committee, and the congresswoman pledged her support to credit unions during GAC's general session audience on Tuesday.

Waters praised Manhattan Beach, Calif.-based Kinecta Federal Credit Union, which has several branches in her district, including many locations co-branded with Nix Check Cashing, which the $3.2 billion Kinecta purchased in 2007.

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