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News Now

Washington
Boehner says new rules punish CUs
WASHINGTON (3/3/11)--House speaker John Boehner (R-Ohio) warned a Credit Union National Association (CUNA) 2011 Governmental Affairs Conference audience that the new rules and regulations created by
Click to view larger image House Speaker John Boehner (R-Ohio) said at CUNA’s GAC that American consumer access to credit provided by credit unions is essential to economic growth and job creation. Boehner is concerned that bigger government leaves less money for Americans to invest in their families and communities. (CUNA Photo)
Click to view larger image Speaker of the House John Boehner (right) meets with CUNA President/CEO Bill Cheney (left) before the Ohio Republican hits center stage to address CUNA’s 2011 Governmental Affairs Conference, which ran from Feb. 27-March 2. Boehner told his credit union audience that spending cuts and job creation are Republicans' top priorities in the next year. (CUNA Photo)
the Dodd-Frank Act will punish those who are the least responsible for the financial meltdown of 2008. “All this will do is punish everyone who had nothing to do with the Wall Street crash two-and-a-half years ago,” Boehner said. “It puts in place rules and regulation limiting your ability to provide credit to your members.” Access to credit is essential to grow the economy and create new jobs, Boehner said. He cited job creation and reining in spending as two critical economic issues. “The real battle” on those issues begins with the federal budget, Boehner said, and he didn’t mince words when commenting on President Barack Obama’s efforts in meeting the challenge presented by the budget. Boehner noted that with a $1.6 trillion budget deficit, the U.S. has to borrow 40 cents for every dollar it spends. “I think all of us in America owe it to ourselves to get our arms around this,” he said. Boehner’s answer to meeting the demands of cutting the deficit are less government and more “common sense.” “The bigger government gets, the smaller the people get,” Boehner said. “The more government takes from people, the less they have to invest in their families, their communities and themselves.”


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