Regulatory & Compliance

WASHINGTON — Two credit union advocates told lawmakers today that the increased regulatory burden faced by the industry was hurting the ability of institutions to serve their members.

The U.S. Department of Justice has indicted nine people, six men and three women, for fraud, bribery and money laundering in connection with the collapse of the $239 million St. Paul Croatian Federal Credit Union.

WASHINGTON — The debit interchange rule and other new requirements on credit cards and mortgages will make it harder for credit unions to serve their members, according to Bill Cheney and John Buckley.

WASHINGTON — Saying that there needs to be a balance between providing strong oversight and not stifling innovation, NCUA Board Member Gigi Hyland today endorsed a proposal that would require regulatory agencies to eliminate a regulation every time it issues a new one.

WASHINGTON — House Financial Services Committee Chairman Spencer Bachus urged credit union advocates to lobby members of Congress, especially in the Sentate, to lessen the impact of the Federal Reserve's proposal on debit interchange.

Credit Union Times was very pleased to honor our 2011 Trailblazer Awards winners March 1 in Washington, DC.