Regulatory & Compliance

During a closed meeting, the NCUA Board unanimously approved Landmark Credit Unions acquisition of Hartford Savings Bank, subject to approval from the FDIC, according to a Board Action Bulletin posted last week on the NCUAs website.

I wholeheartedly support and agree with Sarah Snell Cookes point of view on the issues as raised by Chip Filson. [See Editors Column, page 4, March 13 issue.]

During the March 19 House Financial Services hearing on the conservatorships of Fannie Mae and Freddie Mac, Rep. Mel Watt (D-N.C.) yielded back the majority of his allotted time due to media speculation over the weekend.

Members of the Consumer Financial Protection Bureaus Credit Union Advisory Council told Credit Union Times that CFPB officials listen to credit union concerns and seem to understand the unique relationships between credit unions and their members. However, they said, CFPB officials dont have an answer for why they cant...

The NCUAs Inspector General blamed Telesis Community Credit Unions former management and board as well the NCUA and California Department of Financial Institutions for the Chatsworth, Calif.-based institutions failure in a material loss review released March 20.

Board chair says audit shows agency is fulfilling its financial reporting responsibilities, will soon update system resolution costs.