Credit unions won't have to comply with the controversial rule until at least 2020, but a separate proposal on alternative capital could raise the ire of banking groups.
The group is launching an "educational campaign" to praise the role played by House and Senate members in unwinding certain provisions of the Dodd-Frank.
Credit unions historically have focused on laws that directly pertain to them, but in a break with that tradition, NAFCU is calling on Congress to re-introduce efforts to break up big banks.
The country’s largest banks, and even some lawmakers, are calling on the banking agencies to roll back requirements imposed after the financial crisis. But that puts the economy at grave risk.
Seven credit unions have asked Michigan's banking regulator for permission to launch a trust company, a move that bankers says oversteps that industry's role of helping people of "modest means."
The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule.
The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.
