Thrift Lobby Tries To Saddle ConversionIssue On Reg Relief
WASHINGTON - (07/19/05) -- The powerful thrift lobby is workingto get some provisions restricting NCUA's authority over creditunion conversions to thrifts added to the impending regulatoryrelief bill--an effort that threatens to neutralize credit unionsupport for the bill. But the member of the House FinancialServices Committee drafting the bill, mindful of the ramificationsof such a strategy, has decided not to include the conversion issueon the bill--even though he has been one of the loudest critics ofNCUA's action, sources close to the lawmaker told The Credit UnionJournal. The decision comes after the credit union lobby has toldkey House members that inclusion of the conversion measures couldthreaten their support for the bill. The Reg Relief bill, whichwill include as many as a dozen credit union provisions, isexpected to be introduced in the next two weeks.