News

Credit unions with card portfolios worth over $1 million saw their card charge offs at record levels in the first quarter of 2010, but their delinquencies dropped slightly according to NCUA data.

Credit unions need to be more tough-minded on loan modifications, willing to say "no" but still look for ways to accommodate borrowers with alternative products, a Florida regulator told CU executives Wednesday.

Alexandria, Va. --The NCUA Board is approved a 13.4 basis point assessment for federally insured credit unions to help the Corporate Stabilization Fund repay the Treasury Department.

Does a payday loan alternative program have to be unprofitable to be good for members?

A coalition of public interest groups and think tanks generally regarded as conservative has come out with a statement urging Congress to reject the so-called Durbin Amendment that would regulate debit card interchange.

Calling it a "special case situation," Senate Majority Whip Richard Durbin said he would work to find a way to exempt state government-issued debit cards used to distribute benefits from his amendments.

Accounts of up to $250,000 at credit unions and banks would be permanently insured beyond the current expiration date of 2013, as a result of an amendment approved late yesterday by the House-Senate conference committee on regulatory overhaul.

IMN has named a new executive in charge of leading business and partnership development for its Credit Union On and Banking On hosted e-communications solutions.