Regulatory & Compliance

WASHINGTON -- Senate Majority Leader Harry Reid (D-Nev.) said today while there needs to be stronger regulation of financial services, he hopes Congress doesn't go too far and stifle innovation.

Senate Banking Committee Chairman Christopher Dodd (D-Ct.) said today he hopes that the bill which includes money to create a corporate credit union stabilization fund will be voted on by the full Senate next Tuesday.

The House today passed a measure that places greater restrictions on credit unions and other credit card issuers.

Credit unions won a victory today when the Senate defeated a measure that would have allowed bankruptcy judges to rewrite the terms of mortgages.

CUNA and its affiliates are urging members to write lawmakers to support creating a stabilization fund for corporate credit unions, but a grassroots group led by Callahan & Associates is urging lawmakers to hold hearings first.

A meeting with his party's newest Senator, a town hall meeting in a swing state and a nationally televised news conference are among the events President Obama to attend to mark his 100th day in office today.