House Panel Weighs Protections For Credit Unions

Law360, New York (May 19, 2009, 12:00 AM EDT) -- A House subcommittee on Wednesday weighed future rules on how corporate credit unions borrow and lend to natural person credit unions, after a measure that would increase the insurance fund backing credit union deposits to $6 billion passed Congress in a Senate bill in early May.

“I am grateful that the House and Senate have approved the plan,” National Credit Union Administration chairman Michael E. Fryzel told lawmakers Wednesday, referring to the Helping Families Save Their Homes Act of 2009, which contains, among other provisions, the...
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