Ian McKendry

Several members of Congress endorsed an effort to send a joint bipartisan letter to the Consumer Financial Protection Bureau asking for more exemptions for CUs and small banks.

A day after Consumer Financial Protection Bureau Director Richard Cordray told financial industry executives that Congress did not intend to exempt small institutions from most rules, several lawmakers begged to differ.

WASHINGTON — A day after Consumer Financial Protection Bureau Director Richard Cordray told financial industry executives that Congress did not intend to exempt small institutions from most rules, several lawmakers begged to differ.

The top leaders of the National Credit Union Administration said this week that they support an alternative option that would allow credit unions to merge some operations — a prospect that is alarming banking industry representatives.

Director of Consumer Financial Protection Bureau makes appeal to CUs to work with his agency; says they have 'much ground in common.'

The top leaders of the National Credit Union Administration said Tuesday that they support an alternative option that would allow credit unions to merge some operations.

WASHINGTON — Despite dire predictions by banks and others that new mortgage rules by the Consumer Financial Protection Bureau would cut off access to credit, the industry is performing well two years after the regulations went into effect, according to the agency's top official.

National Credit Union Administration board members want to make it easier for CUs to lend their members.

CUs are ramping up their political efforts in the 2016 race for the White House, seizing a window of opportunity to ride a wave of anti-Wall Street rhetoric and driven by a vital need for regulatory relief.

Federal Housing Finance Agency Director Mel Watt stopped short of calling for Treasury to recapitalize the government-sponsored enterprises, but said "something needs to be done" before they run out of capital.