News

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.