Regulatory & Compliance

WASHINGTON -- The U.S. Department of Justice has sent a letter to a U.S. Representative signaling its disapproval of a proposal to give the power to set card interchange to a panel of judges.

ALEXANDRIA, Va. -- The NCUA drew the curtains on the Sterlent and Cal State 9 dramas today, declaring the failed credit unions officially liquidated. San Francisco-based Patelco Credit Union purchased and assumed assets of both institutions to the tune of $400 million.

SANTA ROSA BEACH, Fla. -- The Coalition for Credit Union Charter Options, the banker led group which was formed to help lobby and litigate for credit unions seeking to convert their charters into mutual banks, is looking for new members.

ALEXANDRIA, VA -- NCUA says it began posting savings and loan rate data on its Web site after it noticed that some credit unions were referencing data from converted CU's as part of the conversion process.

ALEXANDRIA, Va. -- NAFCU, CUNA and NASCUS have offered their suggestions and criticisms on a proposed NCUA rule that would include adding credit card loan origination and payroll processing services to the list of permissible CUSO activities.

WASHINGTON -- With little fanfare, the Senate today confirmed Michael E. Fryel to a seat on the NCUA board.