ALEXANDRIA, Va. - The Texas Credit Union Department recently sought clarification on its authority to apply a general lending rule to waive requirements found in the state's member business lending rule. In a July 9 opinion letter to Harold Feeney, the state's commissioner, NCUA Associate General Counsel Sheila Albin wrote...

NEWPORT BEACH, Calif. - As the industry waits for final SEC rules on broker/dealer exemptions to credit unions, NACUSO continues to make its case for the inclusion of CUSOs in the regulator's language. Many of NACUSO's members have expressed an interest in continuing to enable CUSOs to enter into networking...

MADISON, Wis. - May 2004 might go down in history as the most active month ever for credit union consolidation. According to CUNA's Monthly Credit Union Estimates, May saw the loss of 135 credit unions - the highest month-only decline ever. This decrease brought the total credit union count down...

APPLE VALLEY, Minn. and ORLANDO, Fla. - Nearly five months after its debut, Wings Financial Federal Credit Union has secured a partnership with AirTran Airways to offer the airline's more than 5,800 employees access to financial products and services. In March, $1.5 billion NWA Federal Credit Union launched Wings Financial...

ALEXANDRIA, Va. - NCUA recently clarified that federally insured state-chartered credit unions (FISCUs) may only engage in business lending under the terms of NCUA's MBL regulation or a state member business lending regulation approved by the NCUA Board. In a July 2 opinion letter to John P. Smith, director of...

WASHINGTON - What appeared to be a major win for U.S. Small Business Administration's 7(a) loan program with the House of Representative's recent approval of nearly $80 million in additional funding, is getting a lukewarm reception from the agency as it continues to seek zero subsidy from the federal government....

MADISON, Wis. and HARRISBURG, Pa. - In a move that could potentially create a secondary lending market for credit union member business loans, MEMBERS Development Co. LLC recently announced that it will acquire CU BizSource, a small business lending company, launched in January 2003 by the Pennsylvania Credit Union Association....

ALEXANDRIA, Va. - NCUA recently clarified that in order for federal credit unions to engage in a loan participation, the borrower must be a member and the loan must meet certain requirements. Inland Employees FCU wrote to NCUA asking for permission to participate in a bank's indirect automobile lending program...