U.S. Lawmaker Seeks Study on Credit Union Conversion

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002346-us-lawmaker-seeks-study-on-credit-union-c/

By Kristin Roberts, Reuters

Texas Republican Rep. Jeb Hensarling on Wednesday asked the Government Accountability Office to investigate whether a U.S. regulator obstructs the conversion of credit unions into mutual savings banks.

Hensarling’s request came as America’s Community Bankers, a trade group, asked for the study because of what it said was “unwarranted interference” by the National Credit Union Administration to keep some credit unions from becoming banks.

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