Regulatory & Compliance

With 25 freshmen members readying for next year's state legislature, the Illinois Credit Union League is using the holiday lull to ramp up its "meet and greet" program with lawmakers.

Rick Sense, Community First Credit Union's senior vice president of planning, government and community relations, has been named district chief of staff to Representative-Elect Reid Ribble.

Contrary to the assurances of Illinois Senator Richard Durbin (D), the interchange cap which flows from the amendment that bears his name will reduce credit union income from debit card interchange.

ALEXANDRIA, Va.--With little discussion and by a unanimous vote, the NCUA Board today upheld the denial of Tri-State FCU's application to add a YMCA to its field of membership.

ALEXANDRIA, Va.--Board members of FCUs will only get limited exemption from being sued for some of their actions and will have to gain proficiency reading balance sheets if they don't already have it, according to regulations approved by the NCUA today.

CUSOs using a corporate credit union's services may seek liquidity outside of the industry if a provision requiring them to pay a voluntary payment to the Temporary Corporate Credit Union Stabilization Fund goes through.