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CUNA Backed Candidate Coakley Loses Bay State Senate Race

By Claude R. Marx

In a victory for the GOP, Massachusetts State Sen. Scott Brown beat CUNA-backed Democratic nominee Attorney General Martha Coakley in yesterday's special election for the seat held for almost 47 years by U.S. Sen. Edward M. Kennedy, who died last August.

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CFOs Perched on Hot Seat

Commentary

Outlook for 2010: Time to Batten Down the Hatches

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Regulatory & Compliance Stories

January 18, 2010

Colorado Senator Promotes MBL Cap Increase Bill

Keeping the momentum going, Sen. Mark Udall (D-Colo.) is scheduled to speak at the Credit Union Association of Colorado this morning to promote legislation that would raise the member business lending cap.

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January 18, 2010

Federation Pleased With New Document, But Waiting for Change

NCUA's recent guidance to examiners about how to treat low income and community development credit unions is a good place to start but will need good implementation as well.

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January 18, 2010

ICBA Opposes Measure to Raise MBL Cap

Raising the cap on member business loans is risky in light of the problems facing credit unions and would take away businesses from "tax-paying community banks," said Independent Community Bankers of America Senior Vice President Stephen J. Verdier.

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January 18, 2010

Suit on Failed Alabama CU Settled

The legal clash from last October pitting Alabama's top regulator against the CEO and board of the $193 million failed Mutual Savings Credit Union of Birmingham, has been settled out of court, it was announced this week.

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January 17, 2010

CUs Have Mixed Expectations About This Year

A plurality of credit union leaders surveyed by NAFCU believe there will be a decrease in share growth yet an increase in income growth.

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January 17, 2010

NCUA Issues Letter on Low Income and Community Development CUs

Examiners need to strike a balance between ensuring the safety and soundness of low income and community development credit unions and taking into account the special mission of those institutions.

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January 14, 2010

Virginia Bankers File Bills Allowing Banks to Purchase CUs

The Virginia Bankers Association moved ahead this week to formally introduce bills in the state legislature permitting banks to "consolidate or merge" with credit unions and vice versa.

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