News

Yesterday's financial services regulatory overhaul deal to force banks to fund the FDIC's return from a 1.15% equity ratio to 1.35% has the American Bankers Association asking what about the NCUSIF.

NCUA Director of Congressional and Public Affairs John McKechnie dropped a bombshell in response to criticism that the agency acted too swiftly in its June 25 conservatorship of the $876 million Arrowhead Credit Union: Arrowhead fudged its March numbers.

The Texas Credit Union League, joined up with NCUA, began warning CUs Wednesday to make sure disaster preparation plans are firmly in place in advance of Hurricane Alex.

Despite intense opposition by credit unions and banks, the House today approved a comprehensive financial overhaul bill by a vote of 237-192.

The regulatory overhaul legislation, H.R. 4173, could reach the House floor today, according to NAFCU.

Sen. Mark Udall (D-Colo.) introduced an amendment to the jobs bill moving through the Senate today to increase credit union business lending authorities.