Regulatory & Compliance

The Financial Accounting Standards Board is looking at a Jan. 1, 2009 as the compliance date for its new business combination rule expected to be finalized in the third quarter of this year.

NASCUS provided participants in the Connecticut Unrelated Business Income Tax Conference April 18 with an update on the activities of the UBIT Steering Committee. The seminar was put together as an educational opportunity to help credit unions understand implications of the IRS's five Technical Advice Memoranda (TAMs) recently released. The...

NCUA said in a recent legal opinion letter that it has no legal objection to federal credit unions offering rewards checking accounts.

The two national credit union trade associations supported flexibility in the application of capital standards for banks in comment letters to the Federal Reserve last week.

While state-chartered credit unions are currently permitted to offer a variety of broker-related services, NASCUS recently told the Securities and Exchange Commission it is concerned that state laws will be preempted by the agency's Regulation R, which could trigger "redundant and costly examination and oversight." The SEC is aiming to...

NCUA Vice Chairman Rodney Hood encouraged all sectors of the financial services community to work together to serve the underserved during a West Coast conference on the issue. "While the American economy is strong as a whole, there still remains a segment of our population that has yet to achieve...