Regulatory & Compliance

WASHINGTON -- Congressman Barney Frank, (D-Mass.) chairman of the House Committee on Financial Services has offered a rebuttal to White House claims in a letter sent to Speaker Nancy Pelosi (D-Calif.) regarding elements of Chairman Frank's housing rescue proposal.

WASHINGTON -- The Senate yesterday passed The Foreclosure Prevention Act of 2008 by a vote of 84-12 after discussions by Senators Chris Dodd (D-Conn.) and Richard Shelby (R-Ala.) on its provisions resulted in a package that would gain wide support.

WASHINGTON -- After reviewing some 80 nominations of regulations in need of review or reform, the Small Business Administration's Office of Advocacy has released the top ten submissions, none of which included suggestions from the credit union industry.

WASHINGTON -- Meeting David Nason, assistant secretary for financial institutions at the U.S. Treasury Departments, has leaped higher on the agendas of both NAFCU and CUNA as part of their association's reactions to the department's recent blueprint for federal financial regulatory reform which would eliminate credit unions.

WASHINGTON -- Marking the upcoming National Small Business Week, which takes place April 21-25, the Small Business Administration has launched a new Web site for the week-long celebration and released the lineup of keynote speakers.

WASHINGTON -- In an effort to connect small business loan applicants and commercial lenders, the Small Business Administration is seeking ideas for the development of an online lending portal.

WASHINGTON -- In a recent comment letter on the latest round of amendments to the Federal Reserve's Regulation D, CUNA looked forward to a time when reserve requirements on transaction accounts would be zero.

WASHINGTON -- The Federal Reserve Board on April 1 announced its approval of the proposal by JPMorgan Chase & Co. to acquire Bear Stearns Bank & Trust.