Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (12/29/2009)
* WASHINGTON (12/30/09)--On Monday, the Federal Reserve Board issued a proposal indicating that it is moving ahead with efforts to scale back the aid it infused into the economy during the peak of the financial crisis. The proposal would allow banks to place their reserves in the Fed. Fed officials worry that if banks have too much cash tied in their reserves, there might be a credit boom and inflation. However, Fed Chairman Ben Bernanke said inflation is not a near-term concern (Associated Press Dec. 28). Industry observers expect the investments to have a maturity of one to six months, with an interest rate set through auctions. Banks would not be able to withdraw the funds until the deposits mature ... * WASHINGTON (12/30/09)--Community banks are lobbying the Federal Reserve Board to exempt them from new compensation guidance designed to help financial institutions establish appropriate pay practices. The Fed’s guidance would subject the nation’s 28 largest banks to a “horizontal review” where their pay packages would be compared with those of other firms. Large banks whose compensation practices differ from the norm would be closely analyzed. However, community banks’ compensation would be reviewed as a part of the institutions’ exam processes. Community banks argue that the guidance goes too far because they did not contribute to the current financial crisis. Smaller banks are already exempt from a regulatory reform bill that passed the House in December. Banks with less than $10 million in assets would not be supervised from the proposed Consumer Financial Protection Agency ...


RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
9 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
11 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
11 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
11 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
13 hours ago