News

HOUSTON - StarTrust FCU used the backdrop of the Allen Center office complex in downtown Houston to hold its third annual Rev `Em Up Auto Event. The credit union pulled off the event in partnership with Credit Union Acceptance Corp., a car-buying service for credit union members. A dozen local...

WASHINGTON-House Financial Services Committee Ranking Member Barney Frank (D-Mass.) thanked credit unions for not causing extra work for him and his staff back in the district. "One of the things that marks the business I'm in is we only hear from people when there are problems." he said. "I cannot...

WASHINGTON-Wayne Abernathy, Treasury's assistant secretary for financial institutions, told credit unions in Washington last week that the administration's backing of the credit union tax-exempt status is not waning. Abernathy was also quick to list out a number of programs he had learned about that credit unions are creating and participating...

WASHINGTON-Federal Reserve Board Governor Edward Gramlich, the chairman of the National Reinvestment Corporation, explained that credit unions and the NRC have common goals that can lead to progress in affordable housing. NCUA Board Member Debbie Matz serves as NRC's vice chair. The federal government gives the NRC $100 million dollars...

WASHINGTON-At NAFCU's Congressional Caucus last week, Senator Mike Crapo (R-Idaho) said he was possibly interested in introducing broader regulatory relief than what the House-passed bill offers. The House's Financial Services Regulatory Relief Act (H.R. 1375) deals primarily with what he called "charter issues." Crapo said, "When I picked up the...

WASHINGTON - The Small Business Administration is looking to further expand its relationship with credit unions, according to SBA Deputy Administrator Melanie Sabelhaus speaking to NAFCU's Congressional Caucus last week. There are 25 million small business owners, she stated. More than 10 million are women and 51% of all employees...