House Financial Services Committee Republicans are warning new Consumer Financial Protection Bureau Director Rohit Chopra that he had better not return the agency to the days of “regulation by enforcement.”
Financial regulators, including the National Credit Union Administration, must adopt policies that protect the financial system from the impact of climate change, the Biden Administration said in announcing a government-wide strategy to deal with climate risk on Friday.
A proposed Small Business Administration direct loan program could discourage credit unions from participating in other SBA programs, B. Dan Berger, president of the National Association of Federally-Insured Credit Unions warned Thursday.
Opponents of a Biden Administration proposal to require credit unions and banks to report data to the IRS from accounts that have “gross flow thresholds” over $600 have misrepresented the proposal and have engaged in spreading misinformation, a Treasury Department official charged Thursday.
As Rohit Chopra takes the helm of the Consumer Financial Protection Bureau, Credit Union National Association President/CEO Jim Nussle is calling on the new director to use his authority to exempt credit unions from rules that are designed for businesses that take advantage of consumers.
House Speaker Nancy Pelosi, D-Calif., on Tuesday endorsed a Biden Administration plan to require credit unions and banks to report data to the IRS from accounts that have “gross flow thresholds” over $600.
Fifteen Republican senators are urging Democratic leaders to drop a proposal to allow the Small Business Administration to make $4.5 billion in direct loans to businesses without using credit unions and banks.
The National Flood Insurance Program received a temporary last-minute reprieve last week, but lawmakers are warning that insurance premiums for many people are likely to increase without additional action by the Biden Administration.
Republicans and financial trade groups, including the National Association of Federally-Insured Credit Unions, are asking Congress to drop a Small Business Administration proposal to allow it to expand its direct lending programs.
As the House Ways and Means Committee completed its markup of tax legislation, the Biden Administration renewed its push for Democrats to add a controversial plan to require credit unions and banks to report the inflows and outflows from customer accounts to the Internal Revenue Service.