News

BIRMINGHAM, Ala. -- The restrictive Kansas field of membership bill--likely to become law within days--presents an array of prickly problems for regulators and their credit unions but any national spillover from new population thresholds contained in the legislation remains uncertain, a partner for Dollar Associates said Monday.

WASHINGTON -- US Housing Secretary Alphonso Jackson announced this morning that he will resign his post effective April 18. Jackson cited family matters for his resignation, but he has been the subject of several ethical investigations in the past two years.

FITCHBURG, Mass. -- Workers' Credit Union recently received the highest possible rating--"outstanding"--for its lending practices by the Massachusetts Division of Banks, the credit union reported.

MADISON, Wis. -- The industry's new fixation on Generation Y--those born between 1977-1997--to grow membership has now become a priority topic for CUNA Mutual Group's annual Discovery Conference this June in Florida.

VANCOUVER, British Columbia -- In an effort to detect and prevent investment fraud, Canada's credit unions and several of the country's securities commissions have teamed up to stop the widespread crime in its tracks.

WASHINGTON -- NAFCU is watchful but, in general, fairly calm about the Bush Administration's proposal to substantially restructure the federal financial regulatory system.

WASHINGTON -- Treasury Secretary Henry Paulson announced this morning the department's blueprint for financial regulatory reform, which ostensibly would eliminate the NCUA, bringing credit unions under banking regulatory oversight. The Office of Thrift Supervision may also be eliminated, should the blueprint be adopted.

HARRISBURG, Pa. -- In line with CUNA, state credit union leagues Monday were quick to join in attacking the Bush Administration's proposed regulatory overhaul effectively eliminating NCUA and placing CUs under a single bank regulator.