News

The Federal Reserve comment period on interchange fees may be ending next Tuesday, but Ron Barrick, the Oregon credit union CEO named to a newly chartered panel of the Federal Reserve Bank of San Francisco, intends to keep the issue alive.

ALEXANDRIA, Va. -- The number of troubled credit unions remained about the same in January, NCUA CFO Mary Ann Woodson told the agency's board today.

ALEXANDRIA, Va. -- Credit unions with assets $1 billion or more would have to file an annual report on incentive-based compensation programs and couldn't have any such programs that encourage exposure to inappropriate risks.

NAFCU CEO Fred Becker has aggressively attacked the Federal Reserve's current rule implementing the Durbin debit cap amendment because of its lack of provisions to account for fraud damages.

Elizabeth Vale, who has been the executive director of the White House Business Council, was named the assistant director for community banks and credit unions of the new Bureau of Consumer Protection.

A credit union executive testifying on behalf of CUNA before the House Financial Services Committee charged that the exemption meant to protect small asset debit card issuers from an interchange cap was essentially "meaningless."