Regulatory & Compliance

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.

SEC Chairman Mary Schapiro recently said of the hundreds of letters she's received since taking the helm in January, those on short selling easily top the list.

Two subcommittees of the House Financial Services are likely to hold a hearing next month on the problems facing corporate credit unions and the NCUA's proposal for creating a temporary stabilization fund, several sources told Credit Union Times.

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.