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Inside Washington (09/14/2012)
  • WASHINGTON (9/17/12)--Consumer Financial Protection Bureau (CFPB) Director Richard Cordray sought to allay Sen. Richard Shelby's (R-Ala.) concerns that the CFPB may ignore or attempt to re-write the Dodd-Frank Act by utilizing its exemption and modification authority. In a Thursday hearing before the Senate Banking Committee, Cordray said his agency "cannot ignore or re-write" the laws that Congress mandates, but indicated that where appropriate, the agency intends to use its exemption authority to potentially exempt certain smaller institutions such as community banks and credit unions from certain regulatory provisions "where they don't make sense." Cordray also delivered prepared remarks during the Thursday hearing. The Credit Union National Association will continue to urge the CFPB and its officials that credit unions must see more action with respect to the agency's exemption authority ...
  • WASHINGTON (9/17/12)--The Hill newspaper has posted a news story on the Credit Union National Association's Sept. 12 member business lending press event, and an accompanying three-minute video clip of Sen. Mark Udall's (D-Colo.) remarks at the event. The Capitol Hill event highlighted House and Senate legislation that would increase the credit union MBL cap to 27.5% of assets, from 12.25%. An archived video of the event has also been posted on The Hill's home page ...
  • WASHINGTON (9/17/12)--Strong enforcement of The Fair Credit Reporting Act (FCRA) remains a top priority for the Federal Trade Commission FTC, an agency official said in testimony before a House subcommittee Wednesday http://www.ftc.gov/opa/2012/09/fcra.shtm. The agency is committed to educating consumers and businesses about consumer reports, credit scores, and their rights and obligations under the FCRA, Robert Schoshinski, assistant director of the Division of Privacy and Identity Protection, said   The FTC has played a key role in the implementation, enforcement, and interpretation of the FCRA for more than 40 years and now shares many of these responsibilities with the Consumer Financial Protection Bureau …
  • WASHINGTON (9/17/12)--The U.S. Small Business Administration (SBA) and AARP will partner Oct. 2 to host the first National Encore Entrepreneur Mentor Day.  The event is targeted at entrepreneurs over age 50 to match "encore entrepreneurs" with successful business owners and community leaders for advice and assistance. National Encore Entrepreneur Mentor Day is part of a larger effort by SBA and AARP to promote entrepreneurship among individuals ages 50 and older. It will consist of events that will include speed mentoring allowing mentors and entrepreneurs to share information for five-minute sessions, and mentor lunches …


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