Regulatory & Compliance

The NCUA, which over the weekend conserved AEA Federal Credit Union, reaffirmed Tuesday its policy of resolving CU failures on a case by case basis, choosing among liquidation, merger or ongoing preservation.

For Elizabeth Warren, the former Harvard Law School professor helping to set up the new consumer regulator, thriftiness is very much her cup of tea.

The National Federation of Community Development Credit Unions worries that new NCUA examiners may not be trained in the issues particular to the CUs many will be sent to examine.

Credit unions with assets of $40 million or less will in 2011 be exempt from the collection and reporting requirements under the Home Mortgage Disclosure Act, as a result of a rule issued by the Federal Reserve Board.

House Financial Services Committee Chairman Barney Frank expressed concern to the Federal Reserve that regulations limiting interchange fees could increase the regulatory burden on credit unions and other small financial institutions.

A Senate-passed bill allowing the NCUA to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury Department could be taken up by the House tomorrow.