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Inside Washington (10/06/2010)
* WASHINGTON (10/7/10)--The Credit Union National Association recently released final rule analysis of a number of regulatory changes affecting credit unions, including one that addresses the reforms approved Sept. 23 by the National Credit Union Administration (NCUA) regarding the corporate credit union system. Others address joint regulatory guidance on reverse mortgages, the NCUA’s final rule for short-term, small amount loans, and the Federal Housing Administration’s risk reduction final rule ... * WASHINGTON (10/7/10)--Sen. Mark Udall (D-Colo.) sent a letter to Elizabeth Warren, President Barack Obama’s assistant who will oversee the Consumer Financial Protection Bureau, asking that consumers have free access to their credit reports. “It is my belief that making free access to consumer credit scores a priority point of emphasis for the bureau will help level the financial playing field for millions of Americans, improve financial literacy and ultimately provide greater stability for the nation’s economy as a whole,” he wrote. Udall authored a bipartisan provision in the Wall Street Reform and Consumer Protection Act that would require lenders to provide consumers with the credit scores used in making a determination to deny or offer credit on less than favorable terms ... * WASHINGTON (10/7/10)--The Small Business Administration (SBA) Wednesday published a package of revised size definitions for three broad commercial sectors affecting businesses in retail trades, accommodations and food service, and other services. The changes, proposed Oct. 21, 2009, aim to broaden small business eligibility and help them gain access to SBA’s financial assistance. Up to 17,000 additional firms will be eligible for SBA programs as a result of the revisions, SBA said. SBA changed size standards for the car dealer industry to 200 employees from a revenue-based standard of $29 million. Size standards also were increased for five food services industries and 18 other industries ...


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