Big banks got bailed out and executives took a good chunk of the proceeds. They do not service the small businesses who are the US economy’s employers. In Washington, small measures are being taken to bolster them.
The House Financial Services Committee held a hearing with government officials on the community banking industry and what federal regulations could be holding bankers back from growing.
Ahead of the hearing, the National Association of Federal Credit Unions sent a letter to the top-ranking Democrat and Republican on the panel expressing the importance of regulatory relief to the survival of credit unions. Credit unions argue that because they didn’t cause the financial crisis, they “shouldn’t be caught in the crosshairs of regulations aimed at those entities that did,” said Fred Becker, the association’s president and CEO. Article
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