Regulatory & Compliance

President Obama yesterday named Deborah Matz, an NCUA board member from 2002-2005, to be the new chairman.

Credit unions and other credit card issuers will have tighter restrictions on their ability to raise interest rates and the requirements for sending out bills as a result of a bill approved by the House today in a 367-61 vote.

WASHINGTON -- Corporate credit unions would have to keep a 5% core capital leverage ratio to be considered well capitalized under rules that the NCUA plans to discuss later this year, NCUA Chairman Michael E. Fryzel told lawmakers today.

The Senate last night followed the House's action earlier in the day and passed a bill that that includes a temporary stabilization fund for corporate credit unions.

The fate of the stabilization fund for corporate credit unions could be decided in the House this week as a congressional panel directs its attention to the health of the corporate credit unions.

Less than 24 hours after it was passed President Obama today signed a measure that creates a stabilization fund for corporate credit unions.