Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUs cover challenges in Texas field hearing
WASHINGTON (3/13/12)--Credit union concerns will be heard at a Wednesday House Financial Services financial institutions and consumer credit subcommittee field hearing on the challenges facing small financial institutions in Texas.

This hearing will be held in San Antonio, Texas.  Maria Martinez, president/CEO of Border FCU, Del Rio, Texas and Robert Glenn, president/CEO of Air Force FCU, of San Antonio, will testify alongside other finance industry representatives.

The subcommittee has also scheduled a Thursday Las Vegas, Nevada-based hearing on potential private sector solutions to foreclosure issues, and Sue Longson of El Monte, California-based SCE FCU will testify at that hearing.

The following hearings have also been scheduled:
  • A Wednesday Senate Banking financial institutions subcommittee hearing on pre-paid card issues; and
  • A Thursday Senate Banking housing, transportation and community development subcommittee hearing on how to strengthen the housing market while minimizing taxpayer losses.
The House is on recess this week, but the Senate continues to consider its transportation bill.

The Senate's developing jobs bill could also be released this week, and CUNA is working to include Sen. Mark Udall's member business lending legislation (S. 509) as part of that bill. S. 509 would increase the MBL cap from 12.25% to 27.5% of assets. CUNA has estimated that increasing the MBL cap to 27.5% of assets would inject $13 billion in new funds into the economy, creating as many as 140,000 new jobs, at no cost to taxpayers.

CUNA and credit union leagues have encouraged supporters to contact their legislators and urge them to support S. 509.

To join CUNA's MBL call to action, use the resource link.
Other Resources

RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
18 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
19 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
21 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
21 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
1 Day ago