News

WASHINGTON-Federal Reserve Board Governor Edward Gramlich, the chairman of the National Reinvestment Corporation, explained that credit unions and the NRC have common goals that can lead to progress in affordable housing. NCUA Board Member Debbie Matz serves as NRC's vice chair. The federal government gives the NRC $100 million dollars...

WASHINGTON-At NAFCU's Congressional Caucus last week, Senator Mike Crapo (R-Idaho) said he was possibly interested in introducing broader regulatory relief than what the House-passed bill offers. The House's Financial Services Regulatory Relief Act (H.R. 1375) deals primarily with what he called "charter issues." Crapo said, "When I picked up the...

WASHINGTON - The Small Business Administration is looking to further expand its relationship with credit unions, according to SBA Deputy Administrator Melanie Sabelhaus speaking to NAFCU's Congressional Caucus last week. There are 25 million small business owners, she stated. More than 10 million are women and 51% of all employees...

WASHINGTON-Senate Banking Committee Member Jack Reed (D-R.I.) told attendees of NAFCU's Congressional Caucus last week that he favored greater private insurance disclosures. Reed explained that he experienced what happened first hand with the Rhode Island insurance debacle and stated, "We don't want to see that happen again." He said that...

WESTLAKE VILLAGE, Calif. - Most dealers interviewed for a recently conducted study by J.D. Power and Associates indicated they plan to increase nonprime business in the next year. The company's 2004 Dealer Financing Satisfaction Study cited several factors influencing dealers' increased interest in subprime financing such as a tough job...

ORLANDO, Fla. - Insight Financial CU credits its indirect lending not only with helping the CU grow its auto loan portfolio, but also increasing member penetration of other products and services it offers. The $356 million, 52,711 member-CU (as of June 30, 2004) has been involved with indirect lending for...