News

Credit union members who want to contact lawmakers to urge them to support legislation delaying the Federal Reserve’s debit interchange rule can now call through a phone number set up by CUNA.

NCUA Chairman Debbie Matz has begun a two-year term as chairman of the Federal Financial Institutions Examination Council (FFIEC).

Lobbyists for CUNA and NAFCU said today that Reps. Ed Royce and Carolyn McCarthy plan to introduce legislation this week to raise the cap on member business loans to as much as 27.5% of assets.

The NCUA announced today that it had closed the sale of NCUA Guaranteed Notes Trust 2011-R4 on Thursday, March 31. The transaction yielded about $1.525 billion.

Marc Rapport, longtime technology correspondent for Credit Union Times, is now joining the staff full-time as Web editor.

FedComp Inc. said it has added private cloud computing as an outsourcing option for its core processing credit union clients.

In yesterday’s release of lending data by the Federal Reserve Bank covering 2008 to early 2010, one item that caught the eye of many observers was the amount of overnight borrowings by some corporate credit unions, notably U.S. Central and WesCorp.

The $1.5 billion FAIRWINDS Credit Union is the latest to earn the Small Business Administration’s designation of “preferred lender.”