Regulatory & Compliance

Regulatory and Compliance 10/31/07 Issue

NCUA Executive Director Len Skiles revealed at last week's Budget Briefing and Public Forum that he was proposing a 2.97% budget increase for 2008 to bulk up staffing and handle emerging trends.

CURIA may not be moving this year, the Oklahoma Bankers Association forecast this week, but that doesn't mean bankers need to let their guard down considering realtors added "a gazillion co-sponsors to a bill" harmful to banks that now looks to pass this year.

In its latest SAR Activity Review--Trends, Tips, & Issues, the Financial Crimes Enforcement Network found inconsistencies among shared branch suspicious activity report filings.

The number of co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 1537) is now up to 136, plus primary sponsor Paul Kanjorski (D-Pa.).

After losing deposits and seeing members flee following a storm of bad publicity over losses from speculative real estate loans in southeast Florida, a raft of lawsuits and a five-month federal conservatorship, NCUA will stop the bleeding by merging Norlarco Credit Union.