WASHINGTON -- Federal credit unions are depository institutions as defined by law, according to an opinion issued by the NCUA.Sheila Albin, the agency's associate general counsel, said that by accepting deposits, in the form of shares, credit unions fulfill their role under federal law of "promoting thrift among its members...

WASHINGTON -- Money laundering is not common in the residential real estate industry and most of those involved in the practice are not affiliated with real estate-related business, according to a U.S. Treasury Department report.

WASHINGTON -- Congress should not respond to the problems of Fannie Mae and Freddie Mac so strongly that those corporations would have less money to buy mortgages from credit unions, NAFCU told the chairman and ranking member of the Senate Banking Committee.

WASHINGTON -- A federal panel aimed at improving the public's understanding of personal finance issues wants help from the public.

WASHINGTON -- Help is on the way for credit unions who are trying to put together their federally-mandated identity theft protection plans.

WASHINGTON -- Recently proposed regulations would lead to additional costs and reduced revenue to credit unions and could make credit less available to consumers

WASHINGTON --The Treasury Department has imposed a $15 million civil penalty against Nigeria's United Bank for not complying with anti-money laundering rules.

WASHINGTON -- At press time, the House was close to passing a measure that would make government mortgages more widely available, though President Bush has threatened to veto the measure because it is too expensive.