WASHINGTON-The House Financial Services Committee reported out favorably last week the regulatory relief bill (H.R. 1375) and the check truncation legislation (H.R. 1474). The bill contains 13 provisions aiding credit unions, including expanded investment authority, lengthening the loan maturity maximum from 12 years to 15, raising the CUSO investment limit...

ALEXANDRIA, Va.-The NCUA Board dispatched with four final regulations to enhance and modernize credit unions' dealings with the agency at this month's board meeting, which drew a standing room only crowd. While the agenda items were uncontroversial within the credit union community, several credit union leagues were in town for...

ALEXANDRIA, Va.-D. Edward Wells Federal Credit Union of Springfield, Mass. has been liquidated and its members are being folded into the Western Massachusetts Telephone Workers Credit Union field of membership. While Western Massachusetts Telephone Workers will serve most of the members of the $5-million liquidated credit union, NCUA is still...

WASHINGTON-In an effort to stay ahead of the counterfeiting curve, the Treasury Department's Bureau of Engraving and Printing recently unveiled the soon-to-be-released $20 bill. The reconfigured $20 note will be issued in the fall, with new designs for the $50 and $100 bills to come in 2004 and 2005, respectively....

ALEXANDRIA, Va.-An NCUA meeting room was jam-packed with NCUA employees and their families to observe the agency's 18th Annual Awards Ceremony. The honors were so important to many at the agency that at least a half-a-dozen children could be seen around the room. One toddler shouted out `cheese' when a...

WASHINGTON-The Treasury Department has submitted its draft for deposit insurance reform, which includes many provisions from previous proposals but no coverage increase. Their recommendations were in response to a request from Senate Banking Committee Chairman Richard Shelby (R-Ala.). Treasury's draft would merge the Bank and Savings Association Insurance Funds into...

WASHINGTON-According to Treasury Assistant Secretary for Financial Institutions Wayne A. Abernathy, the Fair Credit Reporting Act "experiment" has been successful in increasing credit availability and the new challenge is safeguarding the information. His written testimony for the House Financial Institutions and Consumer Credit Subcommittee suggested, "It is the impact of...

WASHINGTON-Young and low-income Americans' concern for their personal finances has increased significantly in the past year, according to a study sponsored by the Consumer Federation of America and the Financial Planning Association. The survey, performed by the Opinion Research Corporation International in late April, discovered that less than half of...