Regulatory & Compliance

On the eve of a Senate vote and with the measure facing likely defeat, CUNA today said it was withdrawing from negotiations on the measure to allow bankruptcy judges to rewrite the terms of mortgages.

Interest rates on credit cards could not exceed 18% under the provisions of an amendment to be introduced by four lawmakers on Thursday.

The NCUA's proposal to create a stabilization fund for corporate credit unions will be included in a housing bill that the Senate is scheduled to consider on Thursday.

FDIC Chairwoman Sheila Bair urged lawmakers to give her agency the power to regulate more troubled financial institutions as a way to cause less damage to the overall financial system.

In a move that brings the Democrats a step closer to a 60-seat majority that could enable it to block filibusters, Sen. Arlen Specter (R-Pa.) is expected to cross the aisle and join the majority party, according to several media reports.

Employees of credit unions with credit card programs can learn about the new regulations on credit cards at NAFCU's Webcast from 2:00-3:30 p.m. EDT. on May 6.

James Tedisco, a Republican who was backed by CUNA and the Credit Union Association of New York in a special election to the U.S. House, conceded defeat on Friday, almost a month after the election.

NCUA spokeswoman Cherie Umbel told Credit Union Times that it can not confirm that Eastern Financial Florida Credit Union will merge with Space Coast Credit Union.