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
Lawmakers positive on reg reforms at CUNA breakfast
WASHINGTON (12/4/09)--Speaking at a Thursday “Power Breakfast” sponsored by the Credit Union National Association (CUNA) and the National Journal Group, Reps. Ed Perlmutter (D-Colo.) and Brad Miller (D-N.C.) expressed optimism at the prospect of House passage of pending regulatory reform legislation on derivatives, systemic risk, the Consumer Financial Protection Agency (CFPA), and other initiatives. Both legislators said that Rep. Barney Frank (D-Mass.) is “certain” that the legislation will be on the floor next week, and Miller said that he does not expect that a vote on the bills will be delayed by any other matters. A vote is expected on Thursday. House members are expected to be given a chance to amend any of the bills before they are voted on. Miller, who is a member of North Carolina-based State Employee’s Credit Union, said that legislation to exclude credit unions with $10 billion or less in assets from the examination and supervision authority of the proposed CFPA would be offered as a managers’ amendment. The Federal Reserve’s role will likely change somewhat as a result of these regulatory reforms, especially the creation of the CFPA, and Miller said that there is also strong support in the House for Rep. Ron Paul’s (R-Tex.) amendment that would seek a Government Accountability Office audit of the Fed. Fellow “Power Breakfast” guest Perlmutter said that the balance of the regulatory reform package is so important that he would still ask his colleagues to support the legislation, even if the proposed CFPA is removed. Addressing the potential political impact of the ongoing regulatory reform work, Miller said that if Democrats cannot make the case to the American middle class that Republican opposition credit card and overdraft fee legislation is not in the best interest of the people, then they “really aren’t very good” at their job.


RSS





print
News Now LiveWire
Final field-of-membership rule tops April 30 NCUA agenda http://t.co/gFIhRhUCts
1 day ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief. http://t.co/TMTubG9Afk
1 day ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today: http://t.co/ep5…
1 day ago
Seriously underwater homes rise, new-home sales tumble News Now: http://t.co/2LzWTkqnES
1 day ago
#NewsNow Cornerstone Foundation awards $71K in grants http://t.co/Y6D8K9rwWv
1 day ago