News

The industry's assault on the Durbin interchange amendment is taking advantage of social media vehicles as well as newfound collaboration with banker groups in trying to secure lawmaker support in the House-Senate conference committee.

Viewpointe said it has added $2.8 billion Corporate America Credit Union of Irondale, Ala., to its Internet image exchange network.

The Obama administration put its support for raising the cap on member business loans to as much as 27.5% assets in writing yesterday.

A bill to allow New Jersey credit unions for the first time to become eligible public depositories for public funds successfully passed the Senate Commerce Committee Thursday on a 3-1 vote with one abstention.

Saying he is "not confident we can win this but that doesn't mean we shouldn't do our best," CUNA President/CEO Dan Mica encouraged credit union members to come to Washington to lobby to remove an amendment on interchange fees.

In another sign that consumer wallets are continuing to open, they were more willing to buy big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.