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Inside Washington (08/23/2010)
* WASHINGTON (8/24/10)--There are two sessions this week sponsored by the National Credit Union Administration’s Office of Small Credit Union Initiatives: a Credit Union Roundtable, in Cleveland, Ohio, on Thursday and a Credit Union Workshop in Montgomery, Ala., on Friday. The workshops are tailored to credit unions with assets of $50 million or less. However, credit unions of all asset size groups are welcome to participate in the free training sessions. The 2010 sessions, which began in Aug. 14 in Honolulu, focus on these topics: Issues facing credit unions, maximizing the bottom line, regulatory hot topics, allowance for loan lease losses (ALLL), and alternatives to predatory lending. Click here for the complete calendar of events … * WASHINGTON (8/24/10)--Commodity Futures Trading Commission Chairman Gary Gensler said recently that the U.S. Congress, by passing the Dodd-Frank Act, made it clear that the new regulatory regime should usher in transparency where it comes to standard swaps. U.S. regulators will not bow to Wall Street efforts to weaken financial oversight, he said. Lawmakers’ actions to increase oversight of derivatives came after private swap deals increased the difficulty of containing the country’s economic meltdown because regulators had a hard time determining to what degree problems had spread among different firms. Gensler, in an interview for Bloomberg Television's “Political Capital with Al Hunt,” said the Securities and Exchange Commission, the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC) will let in as much sunshine as possible in publicly disclosing meetings with banks and their lobbyists related to implementing new rules. The FDIC already announced plans to post reports of meetings on its website (American Banker Aug. 23)...

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