Regulatory & Compliance

SACRAMENTO, Calif. -- The California Credit Union League scored a significant legislative victory yesterday, when AB 1779, which forces retailers and government to take responsibility for consumer data breaches, was unanimously approved by the state's assembly by a 75-0 bipartisan vote.

SACRAMENTO, Calif. -- The California Credit Union League scored a significant legislative victory yesterday, when AB 1779, which forces retailers and government to take responsibility for consumer data breaches, was unanimously approved by the state's assembly by a 75-0 bipartisan vote.

ALEXANDRIA, Va. -- Congress has named the month of April "Financial Literacy Month."

ALEXANDRIA, Va. -- NCUA recently advised that credit unions may reclassify a construction and development loan as a member business loan when the level and kinds of risks for which those limits exist are no longer present.

WASHINGTON -- Spurred by a groundswell of bad news in the mortgage and credit markets and hearing from constituents during a two-week break, the Senate stepped up efforts last week on housing legislation to help distressed homeowners.

WASHINGTON -- Nearly 120 people including representatives from a handful of credit unions have turned out at public forums held in early April to share their concerns and offer suggestions on the Small Business Administration's proposal to institute a lender risk rating system.

TOPEKA, Kan. -- As expected, Kansas Gov. Kathleen Sebelius has signed the state's restrictive field of membership law which takes effect July 1 and within nine months will force a branching/member pullback by nine CUs, mostly in Wichita, Topeka and Kansas City.

WASHINGTON -- Congressman Barney Frank, (D-Mass.) chairman of the House Committee on Financial Services has offered a rebuttal to White House claims in a letter sent to Speaker Nancy Pelosi (D-Calif.) regarding elements of Chairman Frank's housing rescue proposal.