Regulatory & Compliance

State chartered credit unions in New York are very close to obtaining parity not only with the banks in the state regarding a "wild card" law, but also parity with their federal counterparts.

The NCUA Board today approved for a 60-day comment period a proposal to insert a conflict of interest clause into its eligible obligations rule.

Freshman Congressman Gus Bilirakis (R-Fla.) has joined the ever-growing list of lawmakers backing the Credit Union Regulatory Improvements Act (H.R. 1537).

The FDIC has alerted member banks and the Office of the Comptroller of the Currency to fraudulent letters circulating appearing to be from the FDIC and instructed recipients not to respond to them.

In his keynote address at the opening session of the National Federation of Community Development Credit Unions' Serving the Underserved Conference, NCUA Vice Chairman Rodney Hood pointed out that June is National Homeownership Month and encouraged credit unions to increase homeownership among the underserved.

Earlier this month, the Senate confirmed Treasury Deputy Assistant Secretary for Financial Institutions David G. Nason to be elevated to the assistant secretary spot.