FOR IMMEDIATE RELEASE
Contact: Patrick Keefe
CUNA Communications, 202-508-6765
Barney Frank has been a friend to credit unions throughout his career. He has always understood and appreciated the credit union difference, and the important role that credit unions play in the lives of their members. He noted several times before credit union audiences that if all financial entities had acted like credit unions, the financial crisis might have been avoided.
As Chairman of the Financial Services Committee, Representative Frank was instrumental in the enactment of the Temporary Corporate Credit Union Stabilization Act, the CARD Act Fix, and of course the exemption from CFPB examination for small institutions in the Wall Street Reform and Consumer Financial Protection Act that bears his name. He used his position during the most difficult economic times in generations to ensure that credit unions were not too adversely affected by the reforms aimed at the large for-profit financial companies that caused the financial crisis.
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