Regulatory & Compliance

WASHINGTON - Congress could consider a rescue plan for the sagging auto industry during what it hopes will be its final meeting this year.

WASHINGTON - Citing the pressure that many credit unions are facing because of the economy, NCUA Board member Gigi Hyland vowed today to redouble efforts to persuade Congress to let credit unions accept supplemental capital.

SACRAMENTO - A bill introduced Tuesday would require the California Department of Financial Institutions to consolidate back into the Department of Corporations, where credit union lobbyists fought so hard to separate it from just 10 years ago.

WASHINGTON -- Officials of NCUA, CUNA and NAFCU have met with officials of President-Elect Barack Obama's NCUA transition team to discuss regulatory and legislative issues of importance to credit unions.

WASHINGTON - Confirming one of the worst kept secrets in the political world, President-elect Barack Obama today named New Mexico Governor Bill Richardson to be his secretary of commerce.

WASHINGTON - Almost two years before the next election, Sen. Mel Martinez (R-Fla.), a member of the Banking Committee, announced today he won't seek reelection.

ALEXANDRIA, Va. - David Marquis, who has run NCUA's Office of Examination and Insurance since 1994, will become the agency's executive director as of January 1, the NCUA board announced today.

WASHINGTON - CUNA's political action committee-Credit Union Legislative Action Council-raised $4 million in 2007 and 2008, the group reported today.