WASHINGTON — Credit unions bear “absolutely no responsibility[for the current problems in the housing market] and are entitledto be recognized for that” House Financial Services CommitteeChairman Barney Frank said today.
|Frank (D-Mass.) made his comments in response to comments byRep. Paul Kanjorski (D-Pa.) when Kanjorski placed letters fromNAFCU and NASCUS on regulatory reform into the record of today'shearing.
|The House Financial Services Committee is hearing fromeconomists and representatives of the financial services industryto get input on ways to improve the way the government regulatesthat sector of the economy.
|Representatives of the credit union industry were not invited totestify at the session but NAFCU and NASCUS sent letters expressingtheir views.
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