NCUA's Community Development Revolving Loan Fund feels the axe in panel cuts; measure now goes to full House.
The House Appropriations Committee today is considering a spending bill that would cut the NCUA’s Community Development Revolving Loan Fund by 75% and 19% from the Treasury Department’s Community Development Financial Institutions Fund.
WASHINGTON — His predecessor had to lay people off and fight congressional efforts to dramatically increase the regulatory burden on credit unions.
With the Consumer Financial Protection Bureau launch about a month away, credit union executives are expecting to spend more money and time complying with myriad of new regulations.
Here's one of the articles that will appear in the next print edition of Credit Union Times.
Credit unions probably won’t have to pay a premium for the NCUSIF, but the NCUA is still trying to encourage them to part with more of their money.
With 115,000 new jobs and Chrysler’s $7.5 billion recent loan repayment to the government, the White House is encouraged by the auto industry’s comeback.
Credit union executives spent the first week after the NCUA unveiled its corporate credit union prepayment plan studying it and reserving judgment.
If current trends hold, the NCUA isn’t likely to have to levy a premium to shore up the NCUSIF this year, and if there is sufficient participation in the prepayment plan, assessments to repay the corporate credit union rescue could be reduced.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.