Regulatory & Compliance

With the NCUA beating the drum even louder lately to increase the member business lending cap, the regulator is still aware of the troubled loan portfolios that have plagued some credit unions.

Expanding its Colorado footprint, the $5.5 billion Security Service Federal Credit Union of San Antonio is planning a takeover of the ailing $120 million Norbel Credit Union of Fort Collins, Colo.

NAFCU has told the House Financial Services Committee that it supports HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act.

The final push for New Jersey legislation allowing credit unions to receive municipal funds may not come until September, but CUs were making their case about filling a void left by the market exit of JPMorganChase regarding $500 million in deposits.

Despite widespread credit union opposition to the bill, CUNA CEO Bill Cheney will be among the dignitaries on hand when President Obama signs the financial reform bill into law, CUNA confirmed.

NCUA Board Chairman Debbie Matz was among the officials on hand when President Barack Obama signed the financial regulatory overhaul legislation into law.