Regulatory & Compliance

FORT LAUDERDALE, Fla.- Lobbyists working for the card brands are gearing up to fight off any attempt to attach an interchange amendment to card reform legislation currently moving through the House and Senate

Senate Majority Whip Richard Durbin said today that a vote on a measure to allow bankruptcy judges to rewrite the terms of mortgages "could come as early as next week."

A day after a House committee approved a measure to place greater restrictions on credit card issuers, President Obama today endorsed the measure and urged lawmakers to go even further.

The House Financial Services Committee today approved a measure to put additional restrictions on credit unions and other credit card issuers.

Stephen Bentley, president/CEO of the $18 million Upper Valley Credit Union, said he doesn't feel he has less representation among trade associations and elected officials because he runs a small shop.

NAFCU wrote a key senator saying it opposes the current version of a measure to let bankruptcy judges rewrite the terms of mortgages.

ALEXANDRIA, VA. - The NCUSIF's reserve balance was $5.2 billion last month, including an increase of $1.2 billion in losses for the corporate credit unions, NCUA Chief Financial Officer Mary Ann Woodson told the board today.

The NCUA Board today extended its program to guarantee the deposits of credit unions in corporate credit unions to accommodate a two-year rolling expiration date.