WASHINGTON – Praising credit unions for their work on behalf of working Americans, Senate Banking Committee Chairman Christopher Dodd (D-Connecticut) said today that "I regret you are paying the prices for errors made by others."
During a speech at CUNA's Governmental Affairs Conference he said there needs to be strong changes in the way financial services are regulated to police the bad practices by some companies and to reverse years of "regulatory neglect."
Although he did not address regulatory issues of specific concern to credit unions, he said any changes would reflect his belief that "economic growth and consumer protection are not antithetical."
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