Regulatory & Compliance

Calling the original measure the “Payday Lender Empowerment Act,” The Wall Street Journal today urged senators to repeal a provision of the financial overhaul bill giving the Fed the power to regulate and cap debit interchange fees.

ALEXANDRIA, Va. — Federally insured credit unions with assets of more than $50 million and smaller ones with potentially risky loan portfolios would have to have policies to evaluate the institution’s interest rate risk exposure, set risk limits and test interest rate shocks.

Three more CEOs–representing some of the largest credit unions in New York state–have now been named to serve on a special bank/CU advisory panel of the Federal Reserve Bank of New York.

Credit unions are offering business loans at a critical time, just when other financial institutions are pulling back, Iowa Gov. Terry Branstad recently said.

First regulators put the squeeze to your credit unions and now the squeeze is on credit union executives.

Now comes the hard part.Former New York Governor Mario Cuomo famously said that you campaign in poetry and govern in prose.