News

SAN DIEGO -- So far, the credit unions that have failed as a result of the economic downturn have had relatively few assets; however, the NCUA told San Diego Town Hall attendees today that will change next year.

The SBA said its two largest programs have approved $11.3 billion in loans as a result of reduced fees and higher guarantees under the American Recovery and Reinvestment Act.

SAN DIEGO -- Allowing corporates to require paid-in capital as a condition of membership is among the new regulations under consideration by the NCUA.

Credit unions that want additional information on relevant sections of the Federal Reserve's proposed rules for implementing additional provisions of the Credit CARD Act can access a breakdown of provisions of the rules at NAFCU's Compliance Blog.

SAN DIEGO -- Because it purchased so many "front loaded" investments, Western Corporate Federal Credit Union is expected to report significant permanent impairments in the near future.

CUNA's "little guy," will soon be at it again on behalf of credit unions on Capitol Hill, this time to fight efforts to restrict interchange fees.