Lawmaker asks GAO to Expand Credit Union Study

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00012357-lawmaker-asks-gao-to-expand-credit-union-/

U.S. Rep. Bill Thomas (R-CA), chairman of the U.S. House Ways and Means Committee, said last week that he would ask Congress to expand a review of credit unions to analyze the industry regulator’s independence and objectivity, according to a story by Reuters.

Thomas said in a letter that the National Credit Union Administration should not promote or defend credit unions, rather it should vigilantly regulate the financial institutions.

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