Regulatory & Compliance

While CUNA and NAFCU supported regulatory guidance in the area of funds exempt from garnishment orders generally, they--and the handful of credit unions that commented to NCUA--said that the burden should not be placed on credit unions.

The new Small Business Administration 2006 National Ombudsman Report to Congress gave NCUA a grade of "B" for its response time to regulatory comments received from small businesses and other entities.

In a new realm for NAFCU, the trade association decided to comment on the Office of Thrift Supervision's advance notice of proposed rulemaking regarding unfair or deceptive acts or practices, an item that has no direct implications for credit unions.

The Financial Accounting Standards Board has delayed, yet again, the release of its final statement on merger accounting standards between mutuals.

OLYMPIA, Wash. -- The semantic clash last April in Nebraska over credit union use of the term "banking" to describe the business has surfaced in Washington State this fall with major parties, including CUs, banks and the state regulator eyeing a quick resolution.

In an effort to reassure its members contemplating a vote to change their credit union to a mutual bank charter, the $186 million Beehive Credit Union has promised members that, as a bank, it will not raise any fees on consumer deposit account for at least two years after the...

The $186 million Beehive Credit Union has urged members to contact the CU if they are contacted by "outsiders" who might offer a different perspective on the CU's possible change to a mutual savings bank charter.

Opposition to the move by the $186 million Beehive Credit Union to change to a mutual bank charter has begun to mount among some long term members who say that they distrust the motives of the CU'S leadership and want to see their credit union remain a CU.