Regulatory & Compliance

Bellco Credit Union doesn't have to pay unrelated business income tax on its income from credit insurance or on royalties from accidental death and dismemberment insurance.

NAFCU President/CEO Fred Becker again urged the NCUA to "use the authorized tools at its disposal to spread out assessment expenses."

The National Federation of Community Development Credit Unions is joining other New York State community development advocates in celebrating the New York Senate's recent support.

To raise the visibility of credit unions' accomplishments in serving their members, the consulting company Callahan & Associates plans to give a report on the industry's performance to the Obama administration.

NCUA Director of Public and Congressional Affairs John McKechnie said the regulator is sensitive to how NCUSIF deposit premiums and special assessments could "exacerbate adverse trends" for credit unions.

Sen. Bob Corker, a key Republican negotiator on regulatory restructuring, said he wants to be sure that the proposed entity to regulate consumer financial products will take a balanced approach.

Florida's chief financial officer, who is running in the August primary for governor, has given a boost to CUNA's congressional campaign on member business lending by writing a letter of support to NCUA Chairman Debbie Matz.

If the debate over what to do about Fannie Mae and Freddie Mac were a boxing match, last week's hearing before the House Financial Services Committee would have been the first round.