News

The NCUA Board took on a number of serious issues impacting the entire industry over 2006 and there appears to be no let up for 2007.

This year may be remembered as the year that two groups of credit unions, CUSOs, associations and vendors got together to try to launch industrial loan corporations which, it was hoped, would purchase card portfolios and give CUs a way to participate in the credit card industry other than by...

Though it may be difficult to recognize from previous forms, a pared-down Financial Services Regulatory Relief Act was signed into law this year, leaving credit unions to continue pursuing regulatory relief.

For many in the credit union industry, particularly if they worked with electronic payments generally and cards in particular, 2006 may go down in memory as the year card security really arrived as an issue that overhung the whole industry. In many ways the year began much as 2005 ended....

What started out with strong promise and an idea has slowed down a bit. Trust services continued to eke along for the industry, but there were a few launches this year.

One lawsuit brought by the American Bankers Association late in 2005 ended with non-multiple common bond credit unions being unable to adopt underserved areas and another, challenging NCUA's judgment of "well-defined community" is still awaiting a decision.