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News Now

Washington
Inside Washington (03/05/2010)
* WASHINGTON (3/8/10)--On Thursday, Senate Banking Committee Chairman Christopher Dodd (D-Conn.) attempted to mitigate criticism regarding his proposal to place a consumer division in the Federal Reserve Board. Financial observers have said the division would equal the status quo (American Banker March 5). However, Dodd said he is advocating for an independent regulator in the Fed that isn’t controlled by the bank. Lawmakers have questioned Dodd’s logic regarding the proposal ... * WASHINGTON (3/8/10)--National Credit Union Administration (NCUA) Board Member Michael Fryzel visited Northern CU, Chicago. He met with CEO Ed Berg and Board Chairman Jim Poskozim. He also spoke with credit union staff and toured the corporate headquarters. “First Northern’s innovative approach to member service is impressive,” Fryzel said. “Despite the current economic recession, the credit union continues to have a positive impact on its community and is able to meet the needs of its members through its financial services and financial education efforts. First Northern also has established an excellent presence at its Rockford, Ill., branches where they are an active participant in the Bank on Rockford program.” Pictured are, from left: Poskozim, Fryzel and Berg. First Northern has $2.8 million in assets. (Photo provided by the National Credit Union Administration) ...


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