Self-Help Credit Union CEO Martin Eakes, also CEO of the Center for Responsible Lending, told the Senate Banking Committee during a Feb. 7 hearing that the "subprime mortgage market today is a quiet but devastating disaster." He continued, "The ultimate effects are very much like Hurricane Katrina, as millions of...
NAFCU Services Corporation, a wholly-owned subsidiary of NAFCU, has named Fifth Third Processing Solutions preferred partner for electronic funds transfer services. Those services will include ATM and debit card processing, terminal driving and network gateway transaction processing.
While new powers for federal credit unions were reaffirmed at NCUA's February Board meeting, federal credit unions were also reminded of their restrictions. During the Feb. 15 meeting, the NCUA Board unanimously approved a final rule--following up on an October interim final rule--permitting federal credit unions to provide wire transfer,...
Credit unions are all for combating terrorist financing and money laundering, but they would like to see the fruits of their labor when they look at the benefits versus the headaches of all their required documentation under the Bank Secrecy Act.
