Credit Unions Hang Tough, See Surge in Deposits

Date: 22 Jun 2010 | posted in: Banking | 0 Facebooktwitterredditmail

In the perilous aftermath of one of the worst financial disasters in U.S. history, one might expect credit unions — which, after all, are mostly tiny by the standards of the banking industry and operated on a cooperative, not-for-profit basis — to be struggling. But data from the last 18 months show that the country’s 7,600 credit unions are in fact outperforming big banks and rapidly expanding their market share. … Read More

Five Reasons the Carper Amendment Must Be Defeated

Date: 18 May 2010 | posted in: Banking | 0 Facebooktwitterredditmail

One of the more menacing amendments circling the financial reform bill is a proposal by Senator Tom Carper (D-DE) that would bar states from enforcing consumer protection laws against national banks and would make it easier for banks to claim immunity from state laws they don’t like.… Read More

Tools for Starting a Local Move Your Money Campaign

Date: 19 Apr 2010 | posted in: Banking | 2 Facebooktwitterredditmail

Is your community organization or local business alliance thinking about launching a public education campaign to encourage people to move their accounts to locally owned banks and credit unions? We have a range of resources to assist you, including help with definitions and identifying local banks, sample flyers, graphs and background articles, examples of local banking campaign materials from around the country, and more.  … Read More

What Big Banks Fear More than the CFPA

Date: 7 Apr 2010 | posted in: Banking | 0 Facebooktwitterredditmail

Hanging in the balance of the financial reform debate is an issue that has received far less attention than the Consumer Financial Protection Agency, but is at least as important and probably more so: whether Congress will restore the authority of states to oversee national banks.… Read More

Finally, a Bill to Reinstate Limits on Bank Size

Date: 24 Mar 2010 | posted in: Banking | 0 Facebooktwitterredditmail

Not one to let a good crisis go to waste, Bank of America managed, in the dark days of 2008, to parlay its own insolvency and near collapse into attaining something it had long dreamed of: federal approval to bypass a national law that says that no bank may acquire another bank if it would end up holding more than 10 percent of the country’s deposits.

Now, at long last, a new Senate proposal calls for reinstating strict size caps.  It would mean disassembling at least five big banks.

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