Regulatory & Compliance

Senator Hillary Rodham Clinton (D-N.Y.) and Senator Gordon Smith (R-Ore.) have introduced The New Saver's Act (S. 1967) to push American's savings back into the black.

Michigan Credit Union Division Deputy Commissioner Roger Little reiterated the tax-exempt status of Michigan state chartered credit unions in a recent letter.

ALEXANDRIA, Va. -- NCUA launched "The Resource Connection" last week as a central location to access and share information on credit union business practices, partnership resources, funding and training opportunities.

Co-sponsorship for the Credit Union Regulatory Improvements Act (H.R. 1537) reached 122, including primary sponsor Congressman Paul Kanjorski (D-Pa.), prior to the August recess.

Despite the increasing pressures of the downward spiral of the housing market, the Federal Open Market Committee decided at its Aug. 7 meeting to maintain the federal funds target rate at 5.25%.

Every year, NCUA publishes a list of one-third of its regulations to be reviewed as part of an annual effort toward regulatory relief.