Regulatory & Compliance

NCUA's proposed rule limiting CU membership to a single corporate is already drawing active industry response with more time being sought in line with surveys being taken by CUNA and NAFCU.

Even though the federal pay freeze moving through Congress only applies to executive branch agencies, the NCUA Board should have it apply to the agency's employees, CUNA President/CEO Bill Cheney wrote NCUA Chairman Debbie Matz today.

NCUA's Inspector General believes that the $145 million Beehive Credit Union, headquartered in Salt Lake City, Utah, has failed or will fail, but the state regulator disagrees.

As the liquidating agent, the NCUA said by law, it is the party, not members or others, to pursue actions first to recover monetary losses that followed the failure of New London Security Federal Credit Union.

A bipartisan group of 13 senators urged Federal Reserve Chairman Ben Bernanke in a letter sent yesterday to ensure that when the Fed issues regulations on debit interchange fees they don't hurt small financial institutions and consumers.

North Carolina's Democratic governor, Beverly Perdue, unveiled a broad downsize of state agencies but the North Carolina Credit Union League is telling its members it disfavors any notion of combining bank and CU regulation.