News

Acknowledging internal political risks by endorsing a Republican, the Michigan Credit Union League said Friday it is formally supporting the GOP's U.S. Rep. Pete Hoekstra in his bid for governor.

Credit union lawyers were hailing a Kentucky Supreme Court ruling upholding state authority on field of membership powers as providing the banking lobby "a resounding defeat" as part of its ongoing quest to curtail CU expansion.

NCUA Deputy Executive Director Larry Fazio told the Board yesterday his team already has "solid estimates" on the size of corporate loss exposure and other corporate stabilization expenses, and is on target to recommend an assessment figure this summer.

ALEXANDRIA, Va. -- Industry health and historical trends are key factors that go into the NCUA's calculations and analysis when determining what assessment level is needed to keep the NCUSIF healthy.

Citing the provisions that would allow the Federal Reserve to regulate interchange fees, CUNA and NAFCU both expressed opposition to the regulatory restructuring bill that the Senate passed 59-39 last night.

Since its mid-March launch, 78 credit unions have adopted CU*Answers new mobile banking service, the core processing CUSO said.

John Shepherd-Baron, the Scotsman who has been recognized as the inventor of the Automated Teller Machine has died in Inverness, Scotland. He was 84.

The SBA recently honored Dupaco Community Credit Union with its 504 First Mortgage Lender of the Year award for the state of Iowa.