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Article: On Deadline.(Navy Federal Credit Union)(Federal Credit Union)(Buffalo Niagara Smart Commute Initiative)
- Article from:
- Credit Union Journal
- Article date:
- June 27, 2005
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New Group Wants CRA
For Largest CUs
WASHINGTON-Another advocacy group for low-income and minority lending has added its voice to those urging Congress to apply the Community Reinvestment Act to credit unions. In a letter sent to Rep. Michael Oxley (R-OH), chairman of the House Financial Services Committee, and the 69 other members of the panel, the Greenlining Institute said it will oppose the CU Regulatory Improvements Act unless Congress requires credit unions of more than $1 billion in assets to comply with CRA in exchange for broader business lending authority.
Robert Gnizda, general counsel for the Berkley, Calif.-based group, insisted ...