The head of a national Federal Reserve panel devoted to improving bank/credit union dialogue and gathering grassroots economic data voiced support this week for the group's record in shedding light on charter differences and addressing regulatory barriers.
“I think credit unions and community banks have learned a lot from one another and shared with the Fed staff what's really happening in Main Street when it comes to Dodd-Frank, for example” observed Howard Boyle, the CEO of an Ohio bank and president of the Fed's Community Depository Institutions Advisory Council.
The Fed panel, set up nearly two years ago by Chairman Ben Bernanke and which includes satellite committees at the central bank's 12 regional offices, has been quietly conducting infrequent, off-the- record regular sessions in which CEOs of banks and CUs can sometimes spar over Fed policy matters.
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