ALEXANDRIA, Va.-A federal credit union may not charge a fee in promoting a bank's reverse mortgage, according to a recent legal opinion letter out of NCUA. However, acting as a finder is a permissible activity under NCUA's incidental powers rule. NCUA Associate General Counsel Sheila Albin wrote the letter, which...

WASHINGTON-After what fortunately turned out to be a false alarm, U.S. Senate Federal Credit Union is back up and running. Early last week, an employee discovered a note at the credit union's main branch located in Hart Senate Office Building referring to a small pox vaccination being available by the...

ARLINGTON, Va.-NAFCU made three recommendations for the Federal Reserve Board's Thrift Institutions Advisory Council (TIAC). The Fed is presently accepting nominations for the 2002-2003 TIAC. Combined, San Antonio Federal Credit Union President and CEO Jeff Farver; Kinecta Federal Credit Union and Kinecta Financial and Insurance Services President and CEO Thomas...

ALEXANDRIA, Va.-While the number of merging credit unions was the lowest during the month of August than it has been all year, the credit union community still witnessed the elimination of many small credit unions. Also bucking recent trends, according to NCUA's Regional Director's Actions Taken Under Delegation of Authority,...

WASHINGTON - Ralph Nader has jumped on board with the consumer advocates railing against CUNA's support for the bankruptcy reform bill. "It is extremely disappointing to see the Credit Union National Association link hands with long-time enemies of the credit union movement in support of legislation which would destroy consumer...

WASHINGTON-Following a report in Credit Union Times (September 18, 2002) about a letter three North Carolina Credit Unions signed onto in opposition to the bankruptcy reform bill, State Employees Credit Union CEO Jim Blaine, one of the signers, said the "hate mail has been rolling in." According to Blaine, credit...

WASHINGTON-Congressman Paul Kanjorski (D-Pa.), one of the original sponsors of H.R. 1151, typically favors credit union issues, but bankruptcy reform is not one of them. In fact, after his work with the credit unions, he has trouble getting the attention of the banking community, Kanjorski jested. The congressman said, "It's...

WASHINGTON-At NAFCU's Congressional Caucus last week, Congressman George Gekas (R-Pa.), author of the bankruptcy abuse reform bill in the House, urged credit unions to continue their "full court press" lobbying efforts on behalf of the seemingly star-crossed legislation. Gekas is facing a tight race in his congressional district and the...