Regulatory & Compliance

Early January is typically a slow news time for us as the credit union industry awakes from its holiday slumber, but that is certainly not the case this year.

Since the start of the decline in the economy, auto lending has been an area where credit unions have managed to see substantial growth.

The impending retirement of Senate Banking Committee Chairman Christopher Dodd (D-Conn.) could make it easier for that panel to reach a consensus on regulatory restructuring, according to lobbyists for the credit union movement.

CU*Answers said it is discontinuing its direct deposit encoding processing service this spring.

Banks paying executives salaries that are deemed to encourage risky financial activities would be levied a higher premium by the FDIC, according to the provisions of a proposed regulation that the agency sent out for comment today.

NAFCU President/CEO Fred Becker today urged the NCUA to review the assisted merger process and encourage credit unions able to merge with another credit unions to notify the agency.