News

Today's NCUA corporate update addressed some of the controversies surrounding last week's regulatory actions.

Small businesses that need surety bonds to compete for construction and service contracts can now qualify for Small Business Administration-backed surety bonds of up to $5 million, the agency said.

The National Federation of Community Development Credit Unions has reiterated its long standing policy of opposing the imposition of the community reinvestment act on credit unions.

Scott Polakoff, acting director of the Office of Thrift Supervision has been placed on leave as the Treasury Department continues its probe of how the agency has regulated some federally chartered thrifts, according to media reports.

Nearly half dozen credit union offices were closed down Friday as the flooding Red River threatened downtown areas of Fargo and scores of employees, volunteers and managers joined city residents doing sandbag duty to protect North Dakota's largest city.

Mid-Atlantic Corporate Federal Credit Union noted again that its own capital with U.S. Central "is now impaired" and warned that the unintended consequence of the conservatorships "could jeopardize consumer confidence in all credit unions."