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Advisory Report Triggers Wisconsin Fight

By David Morrison

The report from President Obama's Economic Recovery Advisory Board that mentioned taxing credit unions has sparked a flare up in the ongoing fight between banks and credit unions in Wisconsin.

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NCUA: Private Label MBS Concentrations Killed WesCorp

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Court Docs Describe Siravo and Swedberg's Alleged SERP Scheme

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Regulatory & Compliance Stories

August 31, 2010

Trade Associations Address Advisory Board

The President's Economic and Recovery Advisory Board has drawn letters from both CUNA and NAFCU after its Aug. 31 report mentioned taxing credit unions as a potential way of improving the federal tax system.

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August 31, 2010

Cheney "Disappointed" with NCUA's Amended WesCorp Charges

CUNA CEO Bill Cheney said he is "disappointed" NCUA has chosen to pursue gross negligence and breach of fiduciary duties charges against him in the Western Corporate FCU lawsuit.

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August 30, 2010

Feinberg Meets With Southeast League on Oil Spill Claims

Southeast credit unions, striving to serve and assist victims of the BP Oil Spill, are hoping they have a friend on loan guarantees in the government's claims czar, Kenneth Feinberg.

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August 30, 2010

NCUA Amends WesCorp Complaint to Include Fraud

The NCUA Board, serving as conservator plaintiffs in the Western Corporate FCU lawsuit, filed an amended complaint today in U.S. District Court that alleges more serious charges than those originally filed.

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August 30, 2010

CUNA, NAFCU Downplay Tax Threat

Both CUNA and NAFCU sought to downplay a recent suggestion from the President's Economic Recovery Advisory Board that taxing credit unions might be one way to increase government revenue.

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August 30, 2010

NCUA Files For Extension in KAP Case

The court extended the deadline for further written arguments between the organizers and volunteers of the at least partially liquidated Kappa Alpha Psi Federal Credit Union and the NCUA.

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August 29, 2010

Small Businesses Win More Federal Agency Contracts

The SBA has announced that small businesses won $96.8 billion in federal contracts in fiscal year 2009, a $3 billion increase over FY 2008.

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