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During the House debate on the bill that would revamp the way financial services are regulated, Democrats argued that the measure was necessary to prevent another economic meltdown.

Credit unions and banks, now grappling with overdraft protection and fees, could soon find themselves in the same boat as the tobacco industry, subject to class action suits from state attorney generals, a leading Charlotte, N.C. lawyer warned Thursday.

The NCUA plans to unveil proposals to revamp its rules for its chartering and field of membership determination process at its meeting next Thursday.

A little over a month after Telesis Community Credit Union filed an $11 million breach of contract claim against a Florida development company, the cooperative said it is working with the borrower to avoid foreclosure.

The House is today beginning what could be three days of debate on a far-reaching bill to overhaul the way the government regulates financial services.

Citing "a divergence among loss projections," the $9 billion Southwest Corporate Federal Credit Union did not record any new third quarter OTTIs, according to its October financial reports.