WASHINGTON – House members and senators addressing NAFCU's Congressional Caucus today spoke along party lines-Democrats supportive and Republicans against-a proposal to create an agency that would regulate consumer financial products.
Although the group was receptive to members of both parties, the Republicans' message on the new agency was greeted with strong applause while Democrats were met with silence.
Sen. Bob Corker (R-Tenn.) said when he first saw the administration's proposal with its restrictive rules about what products financial institutions can offer it was so extreme that "I thought I was having an out of body experience."
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
