The House Financial Services subcommittee on financial institutions and consumer credit Wednesday conducted a "state of the community banking industry" hearing that looked into the causes of the 414 bank failures that occurred from 2008 through 2011.
Congress has not required any similar study of credit union performance during the financial crisis. However, a committee spokesman told CUNA's News Now that the panel does intend to hold a hearing to study the regulatory burden of credit unions. That session will be part of a 2013 series to study, in part, the impact of the Dodd-Frank Act. A date will be announced in the near future. [read more]
[related: CFPB to Study Regulatory Compliance Costs]