Regulatory & Compliance

Despite vigorous lobbying by credit unions, prospects were dim Thursday the Texas legislature would pass a landmark bill plugging data card breaches.

Rep. Paul Kanjorski (D-Pa.) today introduced a measure to create the Temporary Corporate Stabilization Fund and consolidates other previously passed provisions concerning the NCUSIF.

Treasury Secretary Timothy Geithner today plans to announce a proposal to regulate derivatives, which were a key cause of the financial crisis.

CUNA and NAFCU have signed a letter with two banking associations urging senators to defeat an amendment aimed at reducing interchange fees that the trade groups say would decrease the availability of credit.

The founder of Community First Credit Union and its current president yesterday explained to jurors why the government shouldn't impose the unrelated business income tax on that credit union.

With a Senate debate and a presidential town hall meeting on the subject, proposed changes to the rules regarding credit cards will receive considerable attention this week.

A House subcommittee plans to discuss efforts to stabilize the corporate credit unions at a hearing on Wednesday May 20.

Jury selection is beginning today in a Madison, Wis. courtroom in the trial the IRS' interpretation of the unrelated business income tax with regard to credit unions.