ALEXANDRIA, Va.-NCUA issued a Letter to Credit Unions (03-CU-10) withdrawing a previous letter regarding the Federal Bureau of Investigations' Control List in deference to new USA PATRIOT Act regulations. NCUA Chairman Dennis Dollar signed a Letter to Credit Unions last month canceling Letter No. 01-CU-18, dated October 2001, which included...

ARLINGTON-NAFCU started 2003 off in the black, according to the organization's recently released annual report. NAFCU's operating expenses reached nearly $2.5 million in 2002, up slightly from $2.2 million the previous year. Additionally, the trade association's "changes in net assets" totaled $775,993. According to NAFCU Director of Research and Analysis...

ALEXANDRIA, Va.-In sharp contrast to the highly anticipated July board meeting, the NCUA Board considered three minor, uncontroversial issues during its 23-minute June board meeting. July's board meeting is expected to raise a few eyebrows with Treasury and bankers regarding the member business lending rule, which the agency and trade...

WASHINGTON-NAFCU and CUNA recently conveyed their overall approval of Treasury's proposed rule aimed at balancing the demands of the federal check disbursing system with the structure for commercial checks in separate comment letters. "In order to achieve this balance, the proposed rule sets a certain date by which all Treasury...

ALEXANDRIA, Va.-Echoing many of NCUA's earlier thoughts on the issue of regulatory relief, Chairman Dennis Dollar has written back to Senate Banking Committee Chairman Richard Shelby (R-Ala.) regarding his May 23 request for NCUA's opinion on the matter. "NCUA continues to believe that legislation to reduce regulatory burden will positively...

WASHINGTON-Legislation to make the expiring federal preemptions in the Fair Credit Reporting Act permanent was introduced recently by House Financial Institutions Committee Chairman Spencer Bachus (R-Ala.) and three other legislators from both political parties. On the heels of that action came the statement by the administration, via Treasury Secretary John...

WASHINGTON-The bulk of the largest political contributions from the Credit Union Legislative Action Council of CUNA went to Republicans during the month of May, still very early in the 2003-2004-election cycle. Representative Marsha Blackburn (R-Tenn.), a House Judiciary Committee member; House Financial Services Committee member Ed Royce (R-Calif.), father of...

WASHINGTON-The House Subcommittee hearing that bumped NCUA's monthly board meeting to the afternoon provided credit union industry representatives the opportunity to showcase the community's various efforts to bring more consumers into the financial mainstream. NCUA Chairman Dennis Dollar told the House Financial Institutions and Consumer Credit Subcommittee last week about...