WASHINGTON - Representative Barney Frank (D-Mass.), the ranking Democratic member of the House Financial Services Committee has spoken out to clarify his remarks on applying the Community Reinvestment Act to credit unions. He is also preparing a letter for NCUA looking into the agency's response to the $1.4 Community Credit...

WASHINGTON - In a letter which belied its stated intent to turn down the rhetoric surrounding credit union-to-bank-charter conversions, the Coalition For Credit Union Charter Options, the pro-conversion group which is advised by former credit union executives which have become bankers, has alleged that a "backroom deal" might be afoot...

The latest signature debit figures have come in from Raddon Financial Group and the numbers by and large track as expected. The data indicate clearly that both the percentages of people who have a debit card and the percent of people who use a debit card have continued to rise,...

ARLINGTON, Va. - MBNA, a leading purchaser of credit union credit card portfolios, has purchased the credit card portfolio of the $345 million Franklin Mint FCU headquartered in Broomall, Pennsylvania. As with other recent purchases, the bank's ability to offer American Express branded cards played a role in the sale....

WASHINGTON - NCUA Board Chairman JoAnn Johnson spent much of her question and answer time before the House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit on the defensive. On the one hand she defended CUs from the suggestion that they needed to be put under the Community...

ST. PETERSBURG, Fla. - As the credit card industry overall has become steadily more competitive and credit cards more and more resemble commodities, credit unions around the country have continued to work to upgrade and expand their programs. Some of those that have had some of the most success innovating...

WASHINGTON. - The wave of postcards designed to get people talking about the issue of credit unions converting to mutual banks continued to flow from Washington, D.C. this week. Jim Blaine, CEO of the $13 billion State Employees' Credit Union, headquartered in Raleigh, North Carolina, has claimed responsibility for the...

ITHACA, N.Y. - The $48 million Alternatives FCU, a community development credit union, has released its annual study of living wages for its area and, according to the study, a single person living in Tompkins County, will have to make a minimum of just over $18,000 per year to live....