Regulatory & Compliance

The Senate today passed a bill that includes provisions for a stabilization fund that would enable credit unions to spread out the cost of replenishing the NCUSIF over seven years. The vote was 91-5.

A coalition of credit unions and other card issuers plan an advertising campaign in advance of a coming legislative fight on card interchange, according to a statement from NAFCU, one of the coalition members.

To jumpstart the economy, build up the housing market by expanding the $8,000 tax credit to all homebuyers.

Credit unions have the "moral high ground" to promote a regulatory structure that allows them to keep operating as is.

WASHINGTON -- Senate Majority Leader Harry Reid (D-Nev.) said today while there needs to be stronger regulation of financial services, he hopes Congress doesn't go too far and stifle innovation.

Senate Banking Committee Chairman Christopher Dodd (D-Ct.) said today he hopes that the bill which includes money to create a corporate credit union stabilization fund will be voted on by the full Senate next Tuesday.

The House today passed a measure that places greater restrictions on credit unions and other credit card issuers.

Credit unions won a victory today when the Senate defeated a measure that would have allowed bankruptcy judges to rewrite the terms of mortgages.