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News Now

Washington
Inside Washington (02/28/2011)
* WASHINGTON (3/1/11)--A U.S. Treasury Department official said recently that while new financial regulations can help decrease the impact of a future financial crisis, they cannot prevent its occurrence. David Miller, chief investment officer for Treasury's Office of Financial Stability, called it “folly” to think a future crisis can be avoided or that threat of a future recession can be eliminated. Miller’s division oversees the Troubled Asset Relief Program (American Banker Feb. 28) … * WASHINGTON (3/1/11)--Representatives from the finance industry and D.C.-based think tanks will testify alongside Credit Union National Association (CUNA) President/CEO Bill Cheney at a Wednesday hearing on the Dodd-Frank Act’s impact on credit unions, small financial institutions, and other small businesses. In a Monday statement, House financial institutions and consumer credit subcommittee leader Rep. Shelley Moore Capito (R-W. Va.) noted that she is hearing “concerns from small institutions about the unintended consequences that could adversely affect them.” Capito said that the Wednesday hearing will give small issuers and small businesses alike a chance to shed some light on how Dodd-Frank implementation is impacting their business practices. The hearing will start at 2 p.m. (ET) ...


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