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Bankers Seek Action on Senate Reg Relief

By Staff Writer

WASHINGTON-Five banking trade associations nudged the Senate Banking Committee to proceed with its version of financial services regulatory relief. In a letter to Committee Chairman Richard Shelby and Ranking Member Paul Sarbanes, the American Bankers Association, America's Community Bankers, Independent Community Bankers of America, Consumer Bankers Association, and The Financial...

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Missouri Circuit Court Judge Overrules State's Credit Union Commission in FOM Court Case

Fed Director of Banking Supervision/Regulation Announces Retirement

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Regulatory & Compliance Stories

March 28, 2006

NCUA Provides Examiners with Tool To Review CUs' Static Pool Analysis On Indirect Portfolios

ALEXANDRIA, Va. - Eight months after NCUA issued its Risk Alert 05-RISK-01 concerning "Specialized Lending Activities - Third-Party Subprime Indirect Lending and Participations," the agency has issued a white paper designed to provide examiners with a discussion on measuring and predicting the effect of vehicle loan performance on credit unions'...

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March 28, 2006

Baumann Resigns as CFO of Freddie Mac

McLEAN, Va. - Martin Baumann, executive vice president of finance and chief financial officer who was instrumental in helping Freddie Mac complete its earning restatement and release its 2003 and 2004 financial results on an improving timeline, resigned from the housing government sponsored enterprise on March 22. Freddie Mac's President...

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March 28, 2006

NCUA Names Loizos Director of Equal Opportunity Programs

ALEXANDRIA, Va.-Chrisanthy Loizos has been named NCUA's director of equal opportunity programs, the agency announced last week. "Christie Loizos is a proven asset to NCUA and her experience with equal opportunity issues will bring a new dimension to this position and strengthen the agency," NCUA Executive Director Len Skiles said....

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March 21, 2006

NCUA Investigates Wallingford Municipal FCU

WALLINGFORD, Conn.-NCUA is looking into Wallingford Municipal Federal Credit Union for violations of suspicious activity reporting regulations, according to a report from the Record-Journal of Connecticut. The news source reported that a former employee of the credit union was to be arraigned for stealing about $27,000. According to an arrest...

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March 21, 2006

Hood: Open Lines of Communications with Other Regulators on CUs and Business Services

ALEXANDRIA, Va. - NCUA Vice Chairman Rodney Hood recently said he's willing and able to do what is necessary to be sure credit unions have the support they need to have vital business service programs. Hood spoke with members of CUNA's Business/SEG Services Task Force, at a meeting held in...

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March 21, 2006

NCUA Releases 2006 Regulatory Review

ALEXANDRIA, Va.-NCUA recently posted to its Web site (www.ncua.gov) the regulations it plans to look at this year as part of its regular one-third review of its rules. NCUA goes through all of its rules every three years in an effort to keep them up-to-date and eliminate unnecessary burden. The...

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March 21, 2006

CUNA Makes Recommendations to OFAC on Enforcement Interim Final Rule

WASHINGTON-While generally supporting the Office of Foreign Asset Control's interim final rule regarding economic sanctions enforcement procedures, CUNA did request a few adjustments. "CUNA supports OFAC's separate enforcement process for credit unions and other financial institutions, which is designed to take into consideration the role of such institutions, the nature...

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