Former NCUA Chairman and Senator, Roger Jepsen, Dies

Former Sen. Roger Jepsen (R-Iowa), who chaired the National Credit Union Administration board from 1985 to 1993, died Friday in Bettendorf, Iowa. He was 91. President Reagan nominated Jepsen as NCUA chairman after Jepsen was defeated by former Democratic Sen. Tom Harkin. Jepsen “was well-liked and respected in the credit union community,” NCUA Chairman Rodney Hood said. NCUA officials noted that Jepsen led the agency during a period of great change, which included the conversion of more than 400 state-chartered credit unions to federal insurance coverage, as well as the adoption of the CAMEL rating system. Jepsen also chaired the

NCUA Board Approves Final Field of Membership Rule at July Board Meeting

The National Credit Union Administration board on Thursday approved a final Field of Membership rule that had been delayed as a result of a lawsuit filed by the American Bankers Association.

The board unanimously agreed to allow a credit union to file an application to designate a Combined Statistical Area, or a contiguous portion of it, as a well-defined local community. To qualify, that area would be required to have a population of under 2.5 million people.

Former Rep. Barney Frank: Dodd-Frank Has Held Up ‘Pretty Well’

Ten years after President Obama signed the (Dodd-Frank) Wall Street Reform and Consumer Protection Act, the law has “held up pretty well,” former Rep. Barney Frank (D-Mass.) said Tuesday. Speaking at a virtual conference co-sponsored by the Brookings Institution and the University of Michigan, Frank said that Republican members of Congress have attempted to repeal the Obama Administration’s health overhaul bill “every other week,” but have not mounted a serious attempt to repeal Dodd-Frank. “It was too popular,” Frank said. Obama signed Dodd-Frank on July 21, 2010. The law is informally named after Frank, who chaired the House Financial Services