Regulatory & Compliance

Sarah Snell Cooke' s column ["Secondary Capital Prescription," CU Times, April 21] quotes extensively from the NCUA's recent white paper describing the "mixed results" of the use of secondary capital by low-income credit unions.

Any change to the rules regarding interchange fees would "provide an advantage to large financial institutions at the expense of credit unions and other small financial services providers,"

The NCUA took over the operations of one credit union and ended its management of another.

Three amendments on the interchange issue would "impose heavy new restrictions on interchange fees," NAFCU Executive Vice President B. Dan Berger wrote Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell today.

NASCUS Chairman Tom Candon has named Board Member Mary Hughes to fill the two-year board term vacated when former NASCUS Chairman George Reynolds retired.

Operating under a state cease and desist order to restore capital, the president/CEO of Bay Gulf CU said his CU remains "open to merger opportunities " but is determined-and has regulator backing-to ride out loan loss problems in the interim.