Citing its "declining financial condition," the NCUA liquidated Industries Puerto Rico FCU, and Borinquen Community Federal Credit Union purchased and assumed its assets, loans and shares.

The regulators have approved the proposed merger between City-County FCU and Wings Financial Credit Union.

The Senate is expected to break its impasse on a small business lending bill--which includes a $30 billion fund to encourage community bank lending--but without a provision to raise the cap on member business loans from 12.25% to 27.5% of assets.

The planned merger by Navy Federal Credit Union of the long-troubled $604 million USA Federal CU is emblematic of a sharply escalating trend which could see another 2,500 mergers by 2015, Dennis Dollar forecast Monday.