Regulatory & Compliance

The Federal Reserve comment period on interchange fees may be ending next Tuesday, but Ron Barrick, the Oregon credit union CEO named to a newly chartered panel of the Federal Reserve Bank of San Francisco, intends to keep the issue alive.

ALEXANDRIA, Va. -- Credit unions with assets $1 billion or more would have to file an annual report on incentive-based compensation programs and couldn't have any such programs that encourage exposure to inappropriate risks.

Elizabeth Vale, who has been the executive director of the White House Business Council, was named the assistant director for community banks and credit unions of the new Bureau of Consumer Protection.

Visa blamed debit interchange as the reason for continuing to delay the adoption of credit cards with embedded chips in the U.S.

At a time when other financial institutions are pulling back, credit unions are offering business loans at a critical time, Iowa Gov. Terry Branstad recently said.

Working through the large volume of troubled commercial real estate loans will take time as banks go through the difficult process of loan workouts and loan restructurings.