U.S. House panel to weigh credit union conversion

By John Poirier
WASHINGTON, May 5 (Reuters) - Legislation to limit the oversight role played by a U.S. regulator in decisions by credit unions to convert into savings institutions may not be needed if the supervisor agrees to change its rules, a lead Republican on the issue said on Friday.

Republican Rep. Patrick McHenry of North Carolina, who sponsored a bill to curb the National Credit Union Administration's activities in the conversion process, said he would rather see the agency clarify and improve current regulations than force change through law....for more of the story from Reuters