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News Now

Washington
FOIA request seeks bankers role in Blueprint
WASHINGTON (4/4/08)—The Credit Union National Association (CUNA) is seeking written information on what role bank trade associations may have attempted to take to influence the U.S. Treasury Department’s recently unveiled Blueprint for a Modernized Financial Regulatory System. Specifically, CUNA has filed a request under the Freedom of Information Act (FOIA) asking Treasury to disclose bankers’ attempts to affect the Treasury’s plan in ways intended to put credit unions out of business. The request was submitted on behalf of Credit Union Magazine, which intends to publish a story based on its findings. The CUNA request covers but is not limited to information concerning the American Bankers Association, the Independent Community Bankers of America, and America’s Community Bankers, which has now merged with the ABA. “There can be no question that the information sought would contribute to the public’s understanding of government operations and activities, permit the public to better petition the government to redress grievances, and is in the public interest,” says the FOIA request. “The Treasury’s release of the Blueprint has been the subject of widespread reporting in the media, subject to widespread public outrage, and also subject to speculation regarding whether special interests influenced its development and writing,” it adds. The letter goes on to note the extensive media coverage of the impact that the Blueprint would have on America’s credit unions and on speculation concerning special interest group influence on the Blueprint’s formulation. The list includes: Wall Street Journal, The New York Times, the Associated Press, the Boston Globe,the Philadelphia Inquirer, Forbes, The Washington Post, Politico, Congress Daily, PBS’s Nightly Business Report, and Bloomberg Television.


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