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Senate Banking Committee Chairman Christopher Dodd (D-Conn.) admitted last Friday that he and the Republicans are "at an impasse," on legislation to revamp how financial services firms are regulated, but vowed to move forward in drafting a bill.

While they understand that the downturn has led lenders to significantly scale back their business lending activity, financial regulators, including the NCUA, are urging them not to become "overly cautious."

An 86-year-old member of the $856 million NuUnion Credit Union won the Save To Win savings lottery sponsored by the Filene Research Institute and eight participating Michigan credit unions.

Three credit unions were recently ranked among the top private student lenders in the country, according to Student Lending Analytics.

However Congress reforms the government-sponsored enterprises for the secondary mortgage market, NAFCU wants lawmakers to ensure stability in those markets through that reform.

The NCUA corporate assessment coupled with depressed net worth will lower CUs' appetite for mergers in 2010, according to a New York CPA firm which issued a study this week on the banking industry's interest in failing banks.