Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (04/07/2011)
* WASHINGTON (4/8/11)--Regulators testified at a Senate Banking Committee hearing on the state of community banking Wednesday, saying that the proposed interchange rule could hurt small financial institutions. Officials from the Federal Reserve Board, Federal Deposit Insurance Corp. (FDIC) and the Office of the Comptroller of the Currency acknowledged that the exemption for financial institutions under $10 billion may not benefit many small financial institutions (American Banker April 7). Lawmakers at the hearing remarked about the unusual level of agreement between regulators and the industry in their reservations about the law. Even FDIC Chairman Sheila Bair, who is a strong supporter of Dodd-Frank, sent a letter to the Fed raising concerns about the interchange proposal. The Credit Union National Association opposes the cap on interchange fees and has urged Congress to stop the Fed's work on the interchange proposal and study the possible unintended consequences of the Dodd-Frank Act provision …


RSS print
News Now LiveWire
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
1 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
2 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
2 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
4 hours ago
Australian newspaper covers Gen Y tips from @ServusCU at @WOCCU conference http://t.co/xqmLfZVwaI
5 hours ago