Regulatory & Compliance

Credit union employees and board members with questions, comments or complaints will be able to communicate directly with NCUA Chairman Debbie Matz at a virtual town hall meeting on June 28, the agency announced today.

Eleven years after the now-defunct Eastern Airlines first flew the skies from its Miami-based hub, a credit union chartered to serve the carrier's employees made its debut.

The NCUA and the Massachusetts Division of Banks jointly issued a letter of understanding and agreement to the officials of the $178.9 million Tremont Credit Union, Braintree, Mass.

Credit unions with assets of less than $10 billion in assets wouldn't be covered by any regulations promulgated by the new consumer agency, under the provisions of an amendment introduced yesterday by Sen. Sam Brownback (R-Kan.).

A week after placing $250 million St. Paul Croatian Federal Credit Union into conservatorship, the NCUA on May 1 announced it was liquidating the credit union.

As credit unions are well aware, Regulation Z's new open-end lending rules under the Truth-in-Lending Act take effect July 1, 2010. Regulation Z establishes (among other things) uniform methods for disclosing credit terms.