Regulatory & Compliance

When Jim Riederer, CEO of CME Federal Credit Union in Columbus, Ohio, read the draft NCUA regulations pertaining to equitable distribution of corporate stabilization expenses, he could feel his anger rising.

New York CUs gave preliminary approval Thursday to Gov. Andrew Cuomo's cost-cutting call to combine state regulatory agencies covering banks, insurance, consumer protection and credit unions into a new Department of Financial Regulation.

The Michigan Office of Financial and Insurance Regulation announced Thursday it has selected John J. Kolhoff as the new deputy commissioner of the Credit Union Division succeeding veteran Roger Little.

Holly Petraeus, who has extensive experience working on consumer issues affecting members of the military, was named today to head the implementation of the Office of Servicemember Affairs of the Consumer Financial Protection Bureau.

Rep. Barney Frank, the top Democrat on the House Financial Services Committee, invoked images of the Wild West in blasting efforts by Rep. Michele Bachmann (R-Minn.) to repeal the financial overhaul bill passed last year.

Calling him someone who has a "deep understanding of how jobs are created and how to grow the economy," President Obama today named JPMorgan Chase Midwest Chairman William Daley to be the new White House chief of staff.