Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Wash. Post CUs blueprint opposition helps Main Street
WASHINGTON (4/14/08)--The Washington Post Friday noted that the Credit Union National Association’s (CUNA) and credit unions’ opposition to the Treasury Department’s blueprint to revise the financial system will help Main Street--instead of Wall Street. Organizations lobbying against the Treasury’s plan have stated that it caters primarily to large businesses on Wall Street--instead of those that help local communities, such as credit unions. CUNA and other groups have talked about creating an opposition coalition to the Treasury plan, which would scrap the current financial regulation system, the newspaper said. The Post quoted Dan Mica, CUNA president/CEO, saying that the blueprint has little chance of moving ahead in Congress at this time. Mica told the Post that he has asked state associations and credit union directors to write the Treasury, expressing their concerns that they do not need a new regulator. CUNA’s members are outraged at the proposal. They ultimately fear that the blueprint would do away with credit unions, the paper said. CUNA also has filed a request under the Freedom of Information Act (FOIA) asking the Treasury to disclose bankers' attempts to influence the Treasury's plan in ways intended to put credit unions out of business. The request was submitted on behalf of Credit Union Magazine, which intends to publish a story based on its findings (News Now April 4).


RSS print
News Now LiveWire
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
9 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
10 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
10 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
12 hours ago
Australian newspaper covers Gen Y tips from @ServusCU at @WOCCU conference http://t.co/xqmLfZVwaI
12 hours ago