News

NCUA said it has reviewed the offer by Wings Federal Credit Union to pay members of Continental Federal Credit Union $200 apiece if Continental merges with Wings, and has informed Wings that the payment is "impermissible" under the provisions of the Federal Credit Union Act.

The $319 million Lafayette Federal Credit Union has denied there was any obstruction of an April on-site audit of the credit union and said that former Chief Compliance Officer Lawrence Hart resigned because he knew he could have been fired.

Credit unions are pricing their auto loans too low, losing out on an opportunity to earn interest income in a difficult yield environment.

By the end of this month, the volume of imaged checks will surpass the volume of paper checks processed by the South Carolina Credit Union League's Palmetto Cooperative Services.

Lawrence Hart, the chief compliance officer for the $319 million Lafayette Federal Credit Union, has resigned alleging the credit union was untruthful with NCUA examiners, was not taking action on his concerns about potential Bank Secrecy Act violations, and for what he described as the wrongful termination of Howard Mann,...

Co-sponsorship of the Credit Union Regulatory Improvements Act is now officially up to 46 plus primary sponsor Congressman Paul Kanjorski (D-Pa.).