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Inside Washington (04/02/2012)
  • WASHINGTON (4/3/12)--Thirty-two Delaware credit union advocates met with the offices of Sens. Tom Carper (D) and Chris Coons (D), and U.S. Rep. John Carney (D) during the Credit Union National Association's Governmental Affairs Conference in Washington D.C. last month. Member business lending (MBL), supplemental capital, and credit union regulatory burden were the top issues credit unions addressed. Among the credit unions that made Hill visits: American Spirit FCU, Newark; Delaware Alliance FCU, New Castle; Delaware First FCU, Wilmington; Del-One FCU, Dover; Delaware State Police FCU, Georgetown; DEXSTA FCU, Wilmington; Dover FCU; Eagle One FCU, Philadelphia; and Sussex County FCU, Seaford. Four small business owners joined the group to tell how their credit unions provided them with loans when banks would not. Eustace Kamanja, owner of Queen Bee Beauty Supply, and his daughter joined American Spirit FCU in visiting with Coons. Coons, who studied for a year in Kenya, spoke to Kamanja in his native language. Dover FCU brought three small business owners: Alisa Adams, owner of Art Fitness, Delaware's first boutique fitness studio; Pam Satterfield, owner of Brookdale Transport, a trucking/hauling business; and Connie Richard, owner of Hartly Family Learning Center. In the photo is Coons, left, and Sharon Schaeffer, CEO of Delaware First FCU (Photo provided by the Delaware Credit Union League)  …
  • WASHINGTON (4/3/12)--The government's focus on fair lending, most notably  represented by the largest mortgage settlement in history and the Consumer Financial Protection Bureau's new authority, has the banking industry nervous (American Banker April 2). Fair lending sessions were packed at a recent Consumer Banking Assocation conference. Organizers provided extra time for additional questions from attendees. Referrals from regulators have accounted for more than 25 open investigations and eight lawsuits and the Justice Department's fair lending unit shows no signs of slowing, Eric Halperin, the Justice Department's special counsel for fair lending, told attendees during one session. Halperin said fair lending is a priority throughout the federal government. Jo Ann Barefoot, a co-chairman at Treliant Risk Advisors, described the "fairness revolution"--driven by Occupy Wall Street, Elizabeth Warren, politicians and the media--that has turned compliance into headline news …


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