Regulatory & Compliance

The Federal Reserve Board has announced 10 new members to its Consumer Advisory Council for three-year terms, none of which are credit union representatives.

House Financial Services Committee Ranking Member Spencer Bachus (R-Ala.) was joined by Chairman Barney Frank (D-Mass.) to reintroduce legislation to help ease financial institutions' reporting requirements.

NCUA liquidated $8.3 million Marian Miami Church Federal Credit Union in Arizona on Dec. 19, due to insolvency.

Christopher T. Renzo has been barred by NCUA from serving at any federally insured institution.

The Securities and Exchange Commission and Board of Governors of the Federal Reserve System announced Dec. 18, the release of joint proposed rules to implement the "broker" exceptions for banks under Section 3(a)(4) of the Securities Exchange Act of 1934.

In a joint release at the end of 2006, the Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency announced the annual increase in the Community Reinvestment Act reporting thresholds.

The Federal Housing Finance Board conceded to public commenters and removed a provision from its final capital rule that could have made it less likely for Federal Home Loan Bank members to receive dividends. The final rule prohibits a FHLB from issuing new excess stock to members if the amount...

The President's Identity Theft Task Force is seeking public comment on particulars for its strategic plan to fight identity theft before submitting its final recommendations to the president.