Regulatory & Compliance

NCUA has until Friday at 12:00 pm to explain to the U.S. District Court for the District of Columbia why the court should not prevent it from liquidating the Kappa Alpha Psi Federal Credit Union.

The banking industry's push to stonewall attempts to attach an amendment to a bill that would raise the member business lending cap continues to draw the ire of the Wisconsin Credit Union League.

The world's largest credit union, the $40 billion Navy Federal Credit Union, confirmed last week its interest in acquiring the ailing $634 million USA Federal Credit Union of San Diego.

Several more credit union leagues called off their annual Hike the Hill trips to Washington in September citing budget factors, D.C. travel fatigue and-with the exception of member business lending-Congressional inattention to industry issues.

It was recently reported that 75% of all credit unions are under some form of administrative action from the NCUA.

The Consumer Financial Protection Bureau probably won't be up and running until early next year, but the NCUA, other agencies and the credit union trade associations are already starting to gear up.