News

WASHINGTON-Reviewing laws and regulations for burden and usefulness is the duty of Congress, according to Representative Jeb Hensarling (R-Texas). In that respect, the relative newcomer to politics told NAFCU's Congressional Caucus last week, "We are very fortunate to have the leadership of Chairman Mike Oxley and Chairman Bachus." "If left...

WASHINGTON-Two more lawmakers have been added as backers of the Credit Union Regulatory Improvements Act (H.R. 2317) as of press time. Congressman William "Lacy" Clay (D-Mo.) officially signed on, as did Congressman Norm Dicks (D-WA). There are currently 96 co-sponsors to CURIA, in addition to Congressman Ed Royce (R-Calif.). In...

MANCHESTER, U.K. - The regulation limiting British credit union member savings accounts to 5000 (US$9,120) may be raised to 10,000 (US$18,238) or to 1.5% of the total credit union shares. The Financial Services Authority (FSA) which regulates British credit unions has just finished a consultation period and will make a...

WASHINGTON - NAFCU unveiled its new policy on credit union-to-bank charter conversions with three policy suggestions which, it said, would introduce transparency and accountability into the process. Speaking at a press conference held in accordance with NAFCU's Congressional Caucus in Washington on September 19, NAFCU President Fred Becker laid out...

United Kingdom - Does having an actress, a Nobel Peace Price winner, a prime minister, a politician, an archbishop, a war hero or a mayor endorse a credit union help it grow? In Great Britain, celebrity endorsements abound. In the Republic of Ireland and Northern Ireland John Hume was a...

WASHINGTON - Representative Patrick McHenry (R-N.C.), the freshman author of the Credit Union Charter Choice Act, received polite but reserved treatment from the roughly 500 credit union directors and executives before whom he spoke on September 20 in the nation's capital. The Credit Union Charter Choice Act is a piece...