Regulatory & Compliance

ALEXANDRIA, Va. -- NCUA Board Member Gigi Hyland told a hearing of the House Financial Services Committee today that whatever federal reform measures are enacted in the current crisis must be even-handed between federally chartered and non-federally chartered mortgage originators.

SALT LAKE CITY -- One of the reasons some members of the $186 million Beehive Credit Union oppose their CU's proposed move to a mutual bank is the key role they contend a noted Utah banking lobbyist plays on the CU's board.

The Small Business Administration has named a new chief of staff and an associate administrator for the agency's Office of Capital Access.

The Financial Crimes Enforcement Network has asked for nominations for its Bank Secrecy Act Advisory Group.

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.