WASHINGTON -- Congress should act deliberately and carefully and consider all options when revamping the regulatory system, including changing the NCUA's status, Rep. Paul Kanjorski (D-Pa.) said today.
"I don't know that I'd say yes or no. There has to be a process of elimination," he told reporters following his speech to an NCUA conference on the 75th anniversary of the Federal Credit Union Act.
He said Congress should act in a "thorough and deep" manner and not rush to judgment.
Kanjorski, one of the strongest supporters of credit unions, also said he hopes Congress will lift the cap on member business loans soon so credit unions can inject more capital into the economy.
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