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Court Dismisses Coalition's Complaint Against NCUA

By David Morrison

ALEXANDRIA, VA -- U.S. District Judge Claude Hilton has dismissed the attempt by the Coalition For Credit Union Charter Options to overturn NCUA's regulations overseeing the disclosures and process credit unions must follow if they wish to change to mutual bank charters

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December 12, 2007

NCUA Supports Regulator Phone Line As Long As It Gets The CU Calls

WASHINGTON -- NCUA Executive Director Leonard Skiles told a Dec. 12 hearing of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit that the agency supports the notion of allowing consumers to use only one phone number to reach the financial institutions but wants to make sure that...

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December 11, 2007

Proposed Rules and Guidelines Out on Final Pieces of FACT Act Puzzle

After years of waiting, credit unions and others are now able to review and comment on proposed regulations and guidelines regarding credit report accuracy and consumer dispute processes.

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December 11, 2007

CUNA BSA Task Force Meets With NCUA Board Member Hyland, Head of FinCEN

Members of CUNA's Bank Secrecy Act Task Force came to the Washington, D.C. area during the first week of December to meet with the NCUA Board members and with James H. Freis, Jr., the director of the Financial Crimes Enforcement Network and staff for Congressman Barney Frank (D-Mass.), chairman of...

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December 11, 2007

Bernanke Hints at Rate Cut

Federal Reserve Chairman Ben Bernanke has given strong hints recently that he's in favor of another interest rate cut to bolster the sagging economy.

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December 11, 2007

NCUA Selects DebtX to Unload HRACU Florida Loans

NCUA didn't waste any time in trying to sell off the bad loans made by Huron River Area Credit Union, of Ann Arbor, Mich., the assets of which were assumed by Detroit Edison Credit Union in a purchase and assumption last week.

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December 11, 2007

Oregon CU Association Launches Oversight Resource

The Credit Union Association of Oregon has announced that it will launch the Oregon Compliance InfoSight, a comprehensive online compliance information system, in January 2008.

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December 11, 2007

SBA Appoints New Region II Administrator

Michael Pappas has been appointed new regional administrator for the Small Business Administration's Region II which includes New York State, New Jersey, Puerto Rico and the U.S. Virgin Islands.

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