WASHINGTON-Federal Labor Relations Authority (FLRA) Regional Director Gerald M. Cole determined that most of the employees NCUA had objected to as part of a potential union would be eligible to vote on the creation of a union. According to the National Treasury Employees Union, which is working to organize the...

WASHINGTON-NCUA filed an objection to a ruling by a magistrate judge Christmas Eve to allow for discovery in the American Bankers Association lawsuit against the agency. The other credit union defendants followed suit. The costs of discovery, including depositions from third parties, would likely tally in the thousands for all...

ALEXANDRIA, Va.-Arguably the most important news to come out of NCUA's December Board meeting was that the insurance fund's operating level remains the same. The NCUA Board voted unanimously to maintain the National Credit Union Share Insurance Fund's operating level at 1.3%. Because federally insured credit unions remain well capitalized...

WASHINGTON-While the NCUA Board was considering a number of items at its Dec. 18 meeting, NAFCU was at its annual meeting across the river with the Federal Reserve Board. NAFCU took full advantage of its 12th annual opportunity to share credit unions' point of view with top Fed officials. Federal...

WASHINGTON-Political Action Committees, such as the Credit Union Legislative Action Council, may get a leg up on other interest groups following the Supreme Court's recent ruling upholding most of the new campaign finance law. "Overall, the legislation itself, the vast majority, was upheld by the Supreme Court," CUNA Political Director...

ROCKY RIVER, Ohio-American Share Insurance has filed a multi-million dollar civil complaint against United Telephone Credit Union's former board of directors on several counts, including fraud. In total, the plaintiffs are seeking relief of at least $2,253,008.79 in damages in addition to punitive damages, attorneys' fees and expenses. The Ohio...

WASHINGTON- Senate Banking Committee Ranking Member Paul Sarbanes (D-Md.) told attendees of a Consumer Federation of America Financial Services Conference that financial privacy and predatory lending need to be attended to in the legislative arena. Though he admitted that he no longer controlled the committee's agenda, he advocated that these...

WASHINGTON-The Credit Union Regulatory Improvement Act (H.R. 3579) was introduced to a chorus of cheers and boos as Congress drew to a close. Earlier this year, credit union and banking trade associations had been opposed to breaking out a separate regulatory relief bill for credit unions. From credit unions' point...