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

Washington
House CU reg relief hearing today
WASHINGTON (3/6/08)—Today, as more than 4,500 credit union representatives attend the Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) here, the House Financial Services Committee will launch a comprehensive look at credit union regulatory relief issues. In a hearing entitled “The Need for Credit Union Regulatory Relief and Improvement,” CUNA Chairman Tom Dorety, CEO of Suncoast Schools FCU, Tampa, Fla., will testify. Other groups expected on the witness panels include the National Credit Union Administration, the National Association of State CU Supervisors, the National Association of Federal Credit Unions and two banking industry representatives. NCUA’s Johnson, speaking at the GAC Wednesday, said her testimony will key in on two major issues. She said she will address the importance of creating a risk-based capital system for credit unions by reforming prompt corrective action (PCA) rules. Also, she will make her case for allowing all credit union charter types to offer services to underserved areas. Major discussion is expected to be devoted to those and other provisions of the Credit Union Regulatory Improvements Act, H.R. 1537, introduced by Reps. Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.). CURIA, among other things, also proposes to increase the member business lending cap to 20%, up from 12.25%, of a credit union’s assets. Reps. Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.) introduced a new credit union bill Monday, one which would offer regulatory relief in 12 areas but does not go as far as the Credit Union Regulatory Improvements Act (CURIA, H.R. 1537). Also expected to testify at the hearing are representatives from the American Bankers Association and the Independent Community Bankers of American. Today’s hearing, at 10 a.m. ET, will be streamed live on the Web. Use the resource link below. Click on the orange box that says "Click here to watch live webcast of this hearing."
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
9 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
10 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
12 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
14 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
14 hours ago