News

The House Financial Services Committee could deal with the question of whether the proposed Consumer Financial Protection Agency will be able to preempt state consumer laws when it resumes the markup of legislation tomorrow.

Financial Service Centers Cooperative has announced that 14 credit unions on the island of Puerto Rico have banded together to begin to participate in shared branching through its national shared branching network.

Three more credit unions are now using the MeridianLink Inc. account opening and automated lending solutions, the company said.

Credit unions and banks would have to gain a member's or customer's permission before enrolling them in an overdraft protection program and could only charge fees once a month or six times per year in legislation introduced today.

CHICAGO -- Forecasting credit union key measures for year-end and 2010 is a "visceral" and "from the gut" process these days, CUNA top economist Bill Hampel told AICPA National Conference for Credit Unions attendees here.

CHICAGO -- Credit unions should be safe budgeting for a 15 to 30 basis point NCUSIF stabilization assessment in 2010, NCUA Board Member Gigi Hyland told her AICPA National Conference on Credit Unions audience here this afternoon.

The Community Financial Services Association of America has launched an lobbying effort against the proposed Consumer Financial Protection Agency.

Investors who purchase U.S. Central Federal Credit Union's medium term notes will earn more than credit unions that invest in U.S. Central's certificates of deposit.