Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Dodd reg reform markup to inch forward this week
WASHINGTON (11/16/09)—Only opening statements will be allowed on Thursday when the Senate Banking Committee is expected to start its mark up of financial regulatory reform legislation. According to CongressDaily Friday, that opening salvo will be followed by a Dec. 2 session during which amendments may be formally offered. As reported last week in News Now, on Tuesday Dodd introduced a draft bill that would, among other things, establish a consumer financial protection agency (CFPA) similar to that proposed by both the Obama administration and members of the House of Representatives. The consumer protection duties of the National Credit Union Administration (NCUA) would be folded into this agency under Dodd's bill. However, Dodd's bill would preserve the NCUA as an independent safety and soundness regulator for credit unions. While credit unions "have long advocated strong consumer protection," the additional regulatory burden imposed by Dodd's legislation would only take away from their ability to provide "continued and effective service" to their members, Credit Union National Association (CUNA) President/CEO Dan Mica said at the bill’s unveiling.


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
10 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
12 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
12 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
14 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
14 hours ago