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Inside Washington (09/28/2011)
* WASHINGTON (9/29/11)--Nine Minnesota credit union representatives traveled to Washington, D.C., Sept. 20-22 for the Minnesota Credit Union Network’s (MnCUN) annual Hike the Hill event. During the trip, attendees discussed hot topics with Minnesota’s federal legislators, focusing on member business lending (MBL), supplemental capital and credit unions’ role in housing finance reform. Attendees continued to urge endorsement of legislation supporting credit unions in meetings at National Credit Union Administration (NCUA) headquarters with NCUA Chairman Deborah Matz and Board Member Michael Fryzel. The group also shared regulatory concerns with the NCUA officials, focusing on a proposed rule requiring credit union service organizations to file financial statements with the NCUA and the burden it could place on CUSO operations. While in Washington the credit union representatives attended a legislative and regulatory briefing with the Credit Union National Association and visited the offices of all Minnesota’s federal elected officials. Those visits included meetings with Sen. Al Franken (D) and Reps. Keith Ellison (D), Colin Peterson (D), Chip Cravaack (R), and Erik Paulsen (R). Pictured are representatives meeting with Paulsen (left). (Photo provided by Minnesota Credit Union Network.) CUNA and credit unions are pressing Congress to increase credit unions' MBL cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said … * WASHINGTON (9/29/11)--Relief for community banks is among the policy priorities outlined by acting Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg. Addressing to American Banker’s Regulatory Symposium in his first speech as acting chairman, Gruenberg listed three priorities for the FDIC: the implementation of the Dodd-Frank Act, the future of community banks, and economic inclusion and access to mainstream banking services. Gruenberg cited the toll the financial crisis and recession have taken on community banks. Of the 395 FDIC-insured institutions that have failed during the crisis, more than 300 have been community banks. The FDIC will hold a conference early next year on the future of community banking, Gruenberg said. Prior to the conference, FDIC’s research division will trace the evolution of community banks during the past 20 years, including changes in business models and cost structures, and make suggestions for the future. Other issues to be addressed include raising capital, keeping up with technology, attracting qualified personnel, and meeting regulatory obligations. “We are looking at our own risk-management and compliance-supervision practices to see if there are ways to make the process more efficient,” Gruenberg said … * WASHINGTON (9/29/11)--Judith E. Dupre has been appointed executive secretary of the Federal Financial Institutions Examination Council (FFIEC). Dupre’s principal responsibilities will be to manage operations and to coordinate interaction of interagency staff task forces. She most recently served as a senior international adviser with the Federal Deposit Insurance Corp. (FDIC), coordinating international banking activities with a focus on building relationships with foreign bank regulators and deposit insurers. Earlier, she served as a senior program administrator in the FFIEC’s examiner education office …


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