News

The Small Business Administration should delegate less decision-making power to lenders in a key government lending program an official of the Government Accountability Office told lawmakers yesterday.

The clampdown on travel and conference expenses seems to be taking a sharp bite out of next week's big meeting of credit union directors in Las Vegas.

The latest financial report shows that WesCorp had a net loss of $538.3 million in June 2009 and additional Other-Than-Temporary-Impairment charges.

Citing an urgent need for improved advocacy at both federal and state levels, the Texas Credit Union League announced this week it is fielding a corps of legislative coordinators comprising CEOs and senior managers across the state.

Credit unions could make business loans totaling up to 25% of their assets-up from the current cap of 12.25%-under a bill introduced today by Rep. Paul Kanjorski (D-Pa.).

The Obama administration's regulatory reform agenda hit another bump in the road last week when a key House panel delayed consideration of a measure to create a new agency to regulate consumer products.

More than 500,000 Social Security recipients have signed up to receive their benefits on a prepaid debit card, and more than 88% said they would recommend that other recipients sign up.

Launching new marketing campaigns in the wake of bank failures and the trend of looking for merger opportunities were on the minds of California CU executives last week.