Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Rep. Cleaver meets with Kansas City CUs on CFPA
KANSAS CITY (10/15/09)--U.S. Rep. Emanuel Cleaver (D-5) of Missouri asked for credit union input on the Consumer Financial Protection Agency (CFPA) legislation during a meeting in Kansas City on Tuesday. Ten credit union leaders and several bank professionals took part in the event, according to the Missouri Credit Union Association (MCUA). Credit unions requested two changes. First, to allow the National Credit Union Administration or the Missouri Division of Credit Unions to examine credit unions for compliance and carry out enforcement of the regulations. Second, that CFPA pre-empt state laws on consumer protection to lessen the burden of keeping up with laws and regulations in multiple states (The Missouri difference Oct. 14). Bank representatives asked for a carve-out for community banks and for current consumer regulations, but Cleaver said that would not be possible. He said he expects the CFPA legislation could pass before year-end. “Your high school teacher might have told you that 80% of everything is showing up, and that holds true for politics,” said Peggy Nalls, senior vice president of public/legislative affairs for MCUA. “We showed up and the congressman gave us over an hour and a half of his time and attention to discuss our issues regarding the CFPA legislation. Cleaver also requested a separate meeting with credit unions to discuss interchange fees. MCUA said it will provide more information to its member credit unions as soon as possible.


RSS





print
News Now LiveWire
Cornerstone CU Union Foundation says it's prepared to assist #CUs & their employees affected by severe storms in Arkansas and Oklahoma.
40 minutes ago
In 2014,use of remote deposit capture experienced 13% increase to 51%. But checking a balance continued to B the most common mobile activity
44 minutes ago
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
3 hours ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
6 hours ago
Refinance #MarchMadness: Refis drive up mid-March mortgage apps: MBA http://t.co/rTUnlJB516
9 hours ago