Regulatory & Compliance

The regulatory restructuring bill-which CUNA and NAFCU are opposing because of the interchange provisions-is likely to come up for a vote in the Senate this week, and odds are it will pass.

The NCUA served 18 former executives and directors of U.S. Central with demand letters, alleging their breach of fiduciary duty contributed to the conserved corporate's losses.

The NCUA has scheduled a special closed board meeting for 9 a.m. on July 21 to deal with "supervisory activities," the agency announced today.

A New York group is organizing to protect future growth and assist managers on compliance and balance sheet worries for continued viability of faith-based credit unions.

Citing "extraordinary" costs in special cases, the Texas Credit Union Department wants to be reimbursed from the industry for certain examination expenses, it was disclosed last week.

The $1.6 billion Chartway Federal Credit Union has consolidated a second NCUA-conserved Utah credit union, the $139 million SouthWest Community FCU of St. George, Utah.