Prodded by both the bank and credit union lobbies, Oklahoma lawmakers may join their Michigan counterparts in urging a halt to implementation of the Federal Reserve's interchange fee rules.
Oklahoma lawmakers may soon join their Michigan counterparts in urging a halt to implementation of the Federal Reserve's interchange fee rules.
Thanks to the credit union lobby, Michigan lawmakers look to be first in the nation to act next week on a non-binding resolution seeking to halt or delay the Federal Reserve's debit interchange rules.
The White House and Congress are starting to recognize the impact community development financial institutions are having in providing affordable housing expansion, small business support and financial services to urban and rural areas.
Arizona Attorney General Terry Goddard pledged Wednesday to vigorously enforce a crackdown on payday lending three weeks before the June 30 expiration of a sunset law allowing the shops to charge rates up to 400%.
By June 30 Arizona could be joining states banning or restricting payday loan operations with credit unions playing a role in joining the cause.
The Virginia Credit Union League said it is working on a compromise bill in the state legislature dealing with CU-to-mutual conversions.
The Virginia Bankers Association moved ahead this week to formally introduce bills in the state legislature permitting banks to "consolidate or merge" with credit unions and vice versa.