Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Geithner asks defense groups to support CFPA
WASHINGTON (3/25/10)—The U.S. Treasury Department gathered military advocacy groups for a roundtable discussion Thursday to focus on consumer financial protections and how the Obama administration believes a new Consumer Financial Protection Agency would benefit military families. CUNA Deputy General Counsel Mary Dunn attended on behalf of Defense Credit Union Council CEO Arty Arteaga and CUNA. The meeting outlined how military families are often a target for unscrupulous lenders, such as some payday lenders that keep families trapped in an endless cycle of debt. Treasury Secretary Geithner took the opportunity of the meeting to urge support for an independent CFPA ; the House passed regulatory reform legislation calls for separate agency, while the Senate bill would house the agency within the Federal Reserve. He said military families, so often hard hit by abusive practices, deserve a consumer agency. A separate CFPA has drawn opposition from banking and other financial groups, but Geithner said he believes the administration is making headway in garnering support. CUNA has emphasized the need for CUs to continue to be examined by their prudential regulator if a new consumer protection body is created.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
18 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
19 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
19 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
20 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
21 hours ago