Regulatory & Compliance

WASHINGTON - Lobbyists for CUNA and NAFCU said they plan to redouble efforts to persuade lawmakers to lift the cap on member business loans as part of the stimulus bill that is working its way through Congress.

WASHINGTON - House Financial Services Committee Chairman Barney Frank is asking Federal Reserve Chairman Ben S. Bernanke to support permanently lifting the cap on the Central Liquidity Facility.

WASHINGTON - President-elect Barack Obama and his family are scheduled to move to Washington on Sunday.

WASHINGTON - A federal judge has delayed the trial of Bellco Credit Union's lawsuit against the Internal Revenue Service over $199,000 in unrelated business income taxes paid.

WASHINGTON -- Given the connections between financial markets, having a single, independent regulator to oversee banks, credit unions and investment firms "may make sense" Securities and Exchange Commissioner Luis Aguilar recently said.

DALLAS -- Cognizant of the emphasis on asset/liability management and new ACH rules which take effect in 2009, Southwest Corporate Credit Union said this week it is expanding its training curriculum to include two Webinars on both topics.

WASHINGTON -- Two federal agencies delivered a lump of coal to lenders earlier this week, releasing a third quarter report that says loan modifications aren't working for a significant percentage of borrowers.

SACRAMENTO, Calif. - California Gov. Arnold Schwarzenegger's required state employees to take two unpaid days off each month next year. an attempt to corral a runaway state budget deficit that is expected to reach $42 billion by 2010.