Regulatory & Compliance

The comment period for NCUA's proposal to re-incorporate the Federal Credit Union Bylaws into its rules and regulations has been extended, NCUA announced last week.

Although located across the river from Washington, D.C., NCUA is feeling the heat of Congress' new focus on consumer protectionism.

The Credit Union Regulatory Improvements Act (H.R. 1537) has continued to gain legislative co-sponsors at warp speed in its first few months in the 110th Congress, which NAFCU says is a credit to credit union officials pounding the pavement.

One Democrat and one Republican lawmaker signed back on to co-sponsor CURIA bringing the total to 118.

One Democrat and one Republican lawmaker signed back on to co-sponsor CURIA bringing the total to 118.

House Financial Services Committee Ranking Member Spencer Bachus (R-Ala.) and other leading Republicans on the committee announced the introduction of a bill today aimed to curb unscrupulous lending practices.

Co-sponsorship of the Credit Union Regulatory Improvements Act (H.R. 1537) is racing toward the 125 the legislation topped out at last Congress.

USA Federal Credit Union President/CEO Mary Cunningham told the House Subcommittee on Financial Institutions and Consumer Credit today that credit unions' are already operating within the spirit of Carolyn Maloney's (D-N.Y.) overdraft legislation.