Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Inside Washington (03/12/2009)
* WASHINGTON (3/13/09)--Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and Credit
Click to view larger image Sen. Christopher Dodd (right) and CUNA President/CEO Dan Mica, at a Consumer Federation of America luncheon Thursday. (CUNA photo)
Union National Association (CUNA) President/CEO Dan Mica (right) attend a Consumer Federation of America luncheon March 12. Dodd was CFA's keynote speaker and was seated next to Mica prior to his remarks. Mica serves on the CFA board, where CUNA is a charter member. In his comments, Dodd emphasized that his legislative priorities include allowing cramdowns in mortgage bankruptcy, an issue he said the Senate will try to pass in the next few weeks. He added that he and other key Senators will continue working with CUNA to see if it's possible to find common ground with credit unions on the issue. Turning to Mica, Dodd also referenced his appearance at CUNA's Governmental Affairs Conference last month and acknowledged the good work done for consumers by the 140 credit unions in his home state of Connecticut and those throughout the nation ... * WASHINGTON (3/13/09)—Saundra Braunstein, the Federal Reserve Board’s director of consumer and community affairs, said she favors legislation to overhaul mortgage lending rules. However, she said a bill needs to include legal shields for lenders/ Testifying before a House Financial Services subcommittee this week, Braunstein said a bill should protect mortgage lenders from litigation if they comply with certain standards. (American Banker March 12)… * WASHINGTON (3/13/09)—At a press conference this week, U.S. Treasury Secretary Timothy Geithner aligned himself with key lawmakers and said the Federal Reserve Board would be the right agency to be granted the expanded role of systemic risk regulator. Geithner said regulatory reform should, in part, ensure that major institutions, posing the greatest potential risk to the stability of the system, fall under stronger oversight. It should include, he added, carefully designed constraints on leverage. (American Banker March 12) In a separate story, American Banker reported that while House Financial Services Committee Chairman Barney Frank backs a fast-paced legislative agenda that includes creation of the systemic risk regulator, his counterpart, Chairman Chris Dodd (D-Conn.) of the Senate Banking Committee, appears to be backing a slower approach…

RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
10 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted.
14 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse.
14 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
15 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
15 hours ago