News

WASHINGTON - The National Community Reinvestment Coalition kept up its periodic attack on credit unions for allegedly not doing enough to serve low-income communities in 2005, thus helping to keep the topic alive. NCRC is the umbrella group of more than 800 groups and institutions, including the National Federation of...

WASHINGTON - Several developments in the ongoing guidance phase from the IRS on the treatment of 457(f) deferred compensation plans occurred this year. It's been more than a year and a half since an IRS private letter ruling which told a federal credit union that, as a federal instrumentality, it...

WILMINGTON, Del. - If the market for CU card portfolios continues to slow next year, one reason may be the pending merger between card giant MBNA and Bank of America. Announced at the end of June and scheduled to be completed by the end of 2005, the merger between the...

WASHINGTON - The destructive hurricanes that tore through several states this year forced many government agencies to get creative real quick on how to rebuild homes and businesses. Among them was the SBA, which had previously come under fire from some small business owners for how slow the agency was...

MADISON, Wis. - CUNA Mutual endured one of its most bitter battles with its union ever in 2005. For over a year, the company and the Office of Professional and International Employees Local 39 sparred over a new collective bargaining agreement. The battle was very public. It included picketing at...

WASHINGTON - How loan participations should be conducted to qualify for accounting treatment as a sale continued to be a priority for the Financial Accounting Standards Board (FASB) this year. The latest FASB statement issued in October was an improvement over a 2003 version, CUNA said, but more tweaking is...