Credit union senior managers warn against expanded lending authority, says credit unions and regulators "both unprepared."
ICBA, ABA letter restates opposition to S. 2231, says "silent majorit"' of credit unions oppose raising MBL cap and again calling it a "power grab."
Still suffering from the bite of losing all their Western Corporate FCU capital in 2009, credit unions report they are still capital shy when it comes to replacing corporate services.
WesCorp members seek new home for services, shy from staking new capital. Get the story in next week's print edition today in this print preview.
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.
Many unanswered questions continued to swirl last week over the causes, fate and future course of the conserved $318 million Telesis Community Credit Union.
Amount not disclosed, but Patelco pledges support.
In a complicated ruling last week, Judge George Wu opened a door that had seemed closed, by agreeing to allow cases against WesCorp's outside directors to proceed.
In a complicated ruling Monday, Judge George Wu opened a door that had seemed closed by agreeing to allow cases against WesCorp outside directors to proceed.
Yesterday in U.S. District Court, the NCUA lost its motion to "substitute in as plaintiff" entirely for seven mid-sized credit unions that sued Western Corporate FCU directors and employees.