Browsing: Credit unions

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In a letter to Rep. Vicente Gonzalez (D-Texas) and Rep. Brian Fitzpatrick (R-Pa.) today, the American Bankers Association said that it opposes H.R. 5189, the Member Business Loan Expansion Act, legislation that would broaden the credit union industry’s business lending authority.

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In a letter to House Financial Services Committee leaders today, the American Bankers Association expressed opposition to a bill that it called a “backdoor effort by the credit union industry to expand its membership rolls at the expense of tax-paying banks.”

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In testimony before the House Financial Services Committee earlier this week, National Credit Union Administration Chairman Todd Harper urged lawmakers give his agency examination and enforcement authority over third-party vendors, including credit union service organizations, or CUSOs, to address what he called a “growing regulatory blindspot.”

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