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
Waters Pledges Support For CU Charter Enhancement Bills
WASHINGTON (2/28/13)--Rep. Maxine  Waters (D-Calif.) said the pro-consumer record of credit unions justifies proposed legislation to raise limits on member business loans (MBLs) and to improve capital
Click to view larger image Rep. Maxine  Waters (D-Calif.) commends credit unions their performance during past scandals in other financial sectors that caused the recent recession.  (CUNA photo)
 rules.

"I thank you for wanting to do this, and I'm going to help you," she said during a speech before the Credit Union National Association's Governmental Affairs Conference here. Waters is the ranking Democrat on the House Financial Services Committee.

Waters stressed during the GAC speech her long-time admiration of credit unions. "You are the ones that help provide the kind of products we can depend on," she said.  

She noted the commendable performance of credit unions during past scandals in other financial sectors that caused the recent recession. Credit unions were not part of the "debacle," she said.

Waters said increasing the MBL cap would help all consumers, and promised to support future credit union legislative initiatives. "I am you, and you are me," she told the session. 

Two key pieces of CUNA-supported legislation that would enhance the credit union charter were re-introduced in the House just about a week before CUNA's GAC. One bill would increase the MBL cap to 27.5% of assets, up from the current 12.25% limit. The other would broaden credit unions' access to secondary capital beyond retained capital.


RSS





print
News Now LiveWire
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
13 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
17 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
17 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
19 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
19 hours ago