WASHINGTON-Two credit union and several mortgage services representatives took the podium at a press event May 7 announcing Fannie Mae's special mortgage forbearance rights for military personnel on active duty. "Navy Federal Credit Union applauds the actions taken today by Fannie Mae, Freddie Mac and HUD. By their actions, they...

ALEXANDRIA, Va.-NCUA has tapped Senior Staff Attorney Mike McKenna to become the agency's new deputy executive director. McKenna worked as a temporary executive assistant for both former NCUA Board Member Geoff Bacino and Board Member Deborah Matz, which helped broaden his experience at NCUA. "He was just a terrific choice....

WASHINGTON-Nearly a month before the June 3 deadline, the American Bankers Association has submitted its comment letter to NCUA on the proposed member business lending regulation. In the first paragraph of the letter, ABA Executive Vice President Edward Yingling wrote, "ABA strongly opposes the proposed changes in NCUA's Member Business...

WASHINGTON-Treasury Undersecretary for Domestic Finance Peter Fisher announced last week that EE Series savings bonds can be purchased on the Internet as the agency begins to phase out paper savings bonds for electronic versions. Consumers will be able to access their accounts through the TreasuryDirect Web site at www.treasurydirect.gov. While...

ARLINGTON, Va.-NAFCU's emphasis on increasing its political action committee is working like a charm to fatten the lobby group's coffers. As of the end of last week, NAFCU/PAC had raised more than $75,000 for 2003, according to NAFCU Director of Legislative and Political Affairs Brad Thaler. These funds are off...

ARLINGTON-An independent survey firm found that NAFCU members place a high value on their membership in the trade association, according to a survey sponsored by NAFCU. The survey, conducted by Schmidt Consulting Services of Pittsburgh, revealed that 84% of NAFCU-member CEOs said the overall value for dues paid was "outstanding"...

WASHINGTON-Lafayette Federal Credit Union Board Member Michael Hearne represented CUNA last week during a roundtable discussion set up by the Senate Small Business Committee and its chair, Senator Olympia Snowe (R-Maine) regarding the Small Business Administration's 7(a) loan program. No official statements were provided during the roundtable to promote candid...

WASHINGTON-In the time between the congressional spring recess that recently ended and the Memorial Day recess at the end of May, Congress is expected to consider several issues affecting credit unions and other financial institutions. CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn said that he...