Regulatory & Compliance

Sen. Patty Murray (D-Wash.) has enlisted the help of several credit union leaders to enlist support for her measure to provide funding for financial literacy programs.

A network that allows school districts and municipalities to invest in certificates of deposit at FDIC-insured banks could be opened up to include credit unions if a Michigan bill passes.

Credit union employees who want to learn about the legal and safety and soundness issues surrounding home appraisals can sign up for NAFCU's webcast on "New Home Valuation Code of Conduct Elements & Requirements."

The NCUA is scheduled to unveil final rules on what information credit unions must disclose to credit reporting agencies and hear a report on the health of the NCUSIF at its meeting next Tuesday.

During its closed session next Tuesday, the NCUA is planning to consider a proposal to extend its guarantees of natural person credit union deposits in corporate credit unions, NCUA Executive Director David Marquis said today.

The New York Times has taken a stand critical of a proposed federal law which would cap the interest and fees from payday loans at 15% across the country.

NAFCU President Fred Becker today asked the Senate Banking Committee to take "immediate action" on NCUA's proposal to create a stabilization fund for corporate credit unions but suggested changes to the plan, including expanding the repayment period.

Payday lenders are attacked a piece of federal legislation aimed at protecting consumers from so-called payday loans by noting overdraft protection plans do not face similar regulations.