News

Interest rates on credit cards could not exceed 18% under the provisions of an amendment to be introduced by four lawmakers on Thursday.

The NCUA's proposal to create a stabilization fund for corporate credit unions will be included in a housing bill that the Senate is scheduled to consider on Thursday.

FDIC Chairwoman Sheila Bair urged lawmakers to give her agency the power to regulate more troubled financial institutions as a way to cause less damage to the overall financial system.

PSCU Financial Services, the payments CUSO serving over 500 credit unions that process their card transactions on the First Data platform has lobbied a financial ratings firm on behalf of credit unions.

In a move that brings the Democrats a step closer to a 60-seat majority that could enable it to block filibusters, Sen. Arlen Specter (R-Pa.) is expected to cross the aisle and join the majority party, according to several media reports.

Share insurance fund premiums and impairments hit the $162 million Community One Federal Credit Union especially hard, helping to knock the Las Vegas-based credit union down to 2% capital, including optional assets.