Credit unions, banks and other supporters of making changes to the interchange rule have a friend in Rep. Barney Frank (D-Mass.), the top Democrat on the House Financial Services Committee.

Former Assistant Treasury Secretary Michael Barr will become a Filene Research Fellow to conduct research on financial services issues in conjunction with the Filene Research Institute.

Saying she is "executing a fatally flawed plan," the lawmaker in charge of overseeing the new consumer agency asked point person Elizabeth Warren four pages of organizational and policy questions on the new consumer bureau.

The House Financial Services Committee plans to discuss how the government can encourage job creation and what impact the rising debt has on the economy at its first hearing of the new Congress next Wednesday.

Four people, who were either convicted of or pleaded guilty to various crimes while working at credit unions, have been banned by the NCUA from ever participating in the affairs of a federally insured financial institution.

Congress hasn't scrutinized the NCUA's handling of the problems at corporate credit unions very much.

Sen. Joseph Lieberman (I-Conn.), who has worked to help credit unions achieve several of their legislative goals, announced today that he won't run for a fifth term next year.

ALEXANDRIA, Va.-- The NCUA reported last week that the number of troubled credit unions increased at the end of last year, indicating that despite signs of economic improvement the industry has a way to go before it is out of the woods.