News

Working with consumer groups and members of Congress, NAFCU said that a compromise it sought over H.R. 3609, the Emergency Home Ownership and Mortgage Equity Protection Act, allowing bankruptcy judges to alter mortgages shall be limited to subprime and non-traditional loans, was included in a manager's amendment at mark up.

A working paper that explicitly avoids taking a formal role in policy discussion has nonetheless been drawn into the energetic debate over the merits and demerits of payday lending.

With an eye toward adding the accounts of tech-savvy young people and giving strength to the industry's social mission, six U.S. credit unions made the plunge this month into online social networking by hooking up with Zopa Ltd., the British financing firm.

Transparency and a common tongue were the themes of the NCUA's most recent board meeting as the agency issued a draft of its next strategic plan written purposefully in plain language and revealed the process it uses to set the NCUSIF's normal operating level.

WASHINGTON -- The Federal Reserve endorsed an array of new rules that may give future homebuyers greater protections than those available to those who bought in the housing bubble years.

WASHINGTON -- The Federal Reserve endorsed an array of new rules that may give future homebuyers greater protections than those available to those who bought in the housing bubble years.

NEW YORK -- In a story in today's New York Times about how The Federal Reserve, the U.S. Treasury and other regulators repeatedly ignored warnings on the subprime housing crisis, Martin Eakes singled out the Fed's slow reaction to rein in lenders.

WASHINGTON -- While lending to businesses was generally at high levels from October through mid-November, the latest Beige Book, a summary on current economic conditions as reported by the 12 Federal Reserve Districts, suggested a slower rate of growth than previous periods.