Regulatory & Compliance

Reversing a 20-year old precedent, the U.S. Supreme Court today ruled that corporations and unions can use money from their general treasuries to make campaign contributions.

Despite banker opposition, Washington State credit unions are encouraged legislation allowing deposits of public funds in CUs could be enacted this session following support from a key lawmaker, the Washington Credit Union League said Thursday.

As senators prepare a jobs-creation package that CUNA and NAFCU hope will include an increase in the MBL cap, the trades yesterday wrote letters reiterating their support for the measure.

Congress has placed financial service providers on the defensive during the past four years. But with an election scheduled for this year, the political pressures will be even greater.

Financial institutions should make frequent use of stress tests and have well-established risk measuring and monitoring systems to guard against the risks caused by rising interest rates.

"The president has talked on a number of occasions about ensuring that the money that tax payers put up to rescue our financial system is paid back in full."