Oxley Says He'll Push For Regulatory Relief
Rep. Michael Oxley (R-OH) told credit unions he will do all he can to push for regulatory relief for credit unions. "Credit unions shouldn't be burdened by unnecessary regulations," he told the meeting. "Outdated regulations are costly for all of the financial services industry. That's why it's time to implement regulatory relief."
Oxley said he believes that deposit insurance reform "would get to the president this year." That bill would boost per-account coverage to $130,000.