News

LAS VEGAS -- The American Credit Union Management Association is soliciting its members about the position the association needs to take on a legislative proposal that would extend the $8,000 new home buyer tax credit.

Security Service FCU purchased the assets and assumed the member shares of West Texas Credit Union, which the Texas Credit Union Department liquidated yesterday.

LAS VEGAS -- Bob Dorsa, CEO of the American Credit Union Mortgage Association sees the potential irony in holding a mortgage conference in Las Vegas, one of the leading foreclosure cities in the U.S.

As credit unions have increased their share of the mortgage market, they have also acquired a reputation for being relatively soft mortgage fraud targets, according to lending mortgage loan executive.

A bill that would move up the implementation date of the measure to overhaul credit card rules and another that would place limits on interchange fees will be the subject of a House Financial Services Committee hearing next Thursday.

The NCUA yesterday liquidated The Members' Own FCU and accepted the offer of Alaska USA FCU to purchase the assets and assume the member shares.