Regulatory & Compliance

Opponents of the Durbin amendment's cap on debit card interchange may find repealing the legislation an easier battle than fixing it.

Federal credit unions can use gift cards as an incentive under their incidental powers authority but the total costs can cause the NCUA to object to the incentive.

Credit union concern over NCUA's financial literacy rules for directors continued to peak Wednesday with CUNA now counting what it called a "huge" signup--1,800 participants--for an audio conference Thursday on the topic.

A law passed by Congress giving the NCUA the power to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury sparked an industry discussion about the agency's assessment process.

Illinois credit unions are getting a $1.4 million payback from their regulator following settlement of a 2009 suit against former Gov. Rod Blagojevich in his ill-fated attempt to seize bank/CU examiner fees and move them into the state's general fund.

With their new majority in the House, Republicans are vowing to keep a close eye on regulators, and the Federal Reserve's regulation of interchange could well be one of the lawmakers' top priorities.