WASHINGTON - Senate Banking Committee Chairman Alfonse M. D'Amato on Wednesday said he will introduce legislation tightening regulation of credit unions.

The New York Republican would ban federally insured credit unions from putting money in corporate credit unions that are not federally insured. He also wants loans and investments made by federally insured, state-chartered cooperatives to conform to National Credit Union Administration standards.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.