| 02/09/10 - CUs’ share of consumer credit falls to 9.5% |
| Overall consumer credit lending for financial institutions proved more resilient than expected in December, but credit unions’ share of the consumer credit market fell from 9.52 percent to 9.5 percent, according to Federal Reserve data. |
| |
| 02/09/10 - FinCEN rule would expand 314(a) access |
| A final rule giving European Union jurisdictions authority to request information from U.S. institutions under section 314(a) of the USA PATRIOT Act was approved by the Financial Crimes Enforcement Network and takes effect upon publication in the Federal Register. |
| |
| 02/09/10 - Matz to host Feb. 18 virtual town hall meeting |
| NCUA Chairman Debbie Matz will host a town hall webinar Feb. 18 at 3 p.m. Eastern to discuss several pending regulatory proposals, including strengthening the corporate credit union system and streamlining community charter applications. |
| |
| 02/09/10 - NAFCU closed as more snow heads toward D.C. |
| Official Washington, including the federal government and Congress, came to a standstill yesterday as the area dug out from nearly two feet of snow and braced for another foot starting this afternoon. |
| |
| 02/09/10 - Washington Post: CUs reach out to small business |
| A Washington Post article today focuses on credit unions’ efforts to win more member business loan authority, touching specifically on such activity at Mid-Atlantic FCU (a NAFCU member in Germantown, Md.) and legislation in the House and Senate that would double credit unions’ current authority. |
| |
| 02/08/10 - Becker writes Obama, Geithner on GSEs |
| NAFCU President Fred Becker on Friday urged President Obama and Treasury Secretary Tim Geithner to ensure preservation of a housing finance model that continues to provide important liquidity for credit union lending. |
| |
| 02/08/10 - January employment data show mixed results |
| January’s employment report was a mixed bag of positive and negative news, but ultimately the data did nothing to change NAFCU’s view that a strong rebound in the labor market is unlikely. |
| |
| 02/08/10 - NAFCU Board election cycle begins |
| The NAFCU Board will gain at least one new director in this year’s election cycle, which will affect two at-large seats and the seats representing Regions II and V. |
| |
| 02/08/10 - NAFCU offices closed in aftermath of snowstorm |
| NAFCU’s offices are closed today as a result of the region’s latest dump of snow, with Washington, D.C.-area localities dealing with accumulations from the teens to more than 30 inches. |
| |
| 02/08/10 - No surprise that CUs get top marks, Becker says |
| NAFCU President Fred Becker said a recent Forrester survey placing credit unions in the top tier of institutions rated for their focus on customer advocacy underscores the value of the cooperatives’ core principles. |
| |
| 02/08/10 - Regulators issue guidance on small-biz lending |
| Financial institutions that lend to small business borrowers after performing a comprehensive review will not be subject “to criticism for loans made on that basis,” the federal financial regulatory agencies, including NCUA, said Friday. |
| |
| 02/08/10 - Senate action brewing on jobs, reg reform |
| Senate leaders will be working to advance a jobs bill this week that NAFCU is hoping may serve as a vehicle for an increase in credit unions’ member business loan cap. |
| |
| 02/05/10 - Bernanke sworn in for 2nd term at Fed helm |
| Ben Bernanke was sworn in for a second, four-year term as chairman of the Federal Reserve Board Wednesday, and he marked the occasion by reflecting on his tenure and discussing future challenges. |
| |
| 02/05/10 - Frank sets hearing on future of housing finance |
| House Financial Services Chairman Barney Frank, D-Mass., said the panel will hold a hearing March 2 to begin considering the future of housing finance, including all private and public entities that support the mortgage market. |
| |
| 02/05/10 - NAFCU urges Congress on GSEs’ transition |
| NAFCU on Thursday urged the leaders of two key congressional committees that steps be taken to ensure stability for credit unions and the secondary market when Fannie Mae and Freddie Mac transition from conservatorship. |
| |
| 02/05/10 - NAFCU urges CUs to join America Saves |
| As NAFCU readies its own efforts to participate in America Saves Week and Military Saves Week, Feb. 21-28, the association is encouraging credit unions to also get involved by promoting savings and debt reduction. |
| |
| 02/05/10 - NCUA gives 45 days more for FOM comments |
| NCUA has set April 15 as the new deadline for comments on the agency’s proposed Interpretive Ruling and Policy Statement 09-1 on community chartering and field of membership. |
| |
| 02/05/10 - Orlando town hall to be followed by online event |
| NCUA yesterday wrapped up the fifth in a series of town hall meetings in Orlando, Fla., where it said a “spirited and diverse dialogue” took place on the future of the corporate system and other topics. |
| |
| 02/04/10 - BSA Advisory Group applications due Feb. 24 |
| The Financial Crimes Enforcement Network is taking applications until Feb. 24 to fill seats representing financial institutions and trade groups for three-year terms on the Bank Secrecy Act Advisory Group. |
| |
| 02/04/10 - FHFA to propose revised GSE housing goals |
| The Federal Housing Finance Agency plans soon to release a proposed rule setting housing goals for Fannie Mae and Freddie Mac for 2010 and 2011, FHFA Acting Director Ed DeMarco told lawmakers Tuesday. |
| |
| 02/04/10 - Toyota woes worsen vehicle sales market |
| Toyota’s unexpected problems were the driving factor in January’s weak vehicle sales numbers, and those problems appear likely to dampen sales over the near term as well, NAFCU Staff Economist Katrin O’Connor said. |
| |
| 02/04/10 - Treasury ups TARP investment in CDFIs |
| Treasury Secretary Geithner released further details of an initiative unveiled in October to facilitate Troubled Assets Relief Program capital investments in community banks and institutions certified as community development financial institutions, and NCUA said it is working on an implementing rule for credit unions. |
| |
| 02/04/10 - Webcast delves into risk, tolerance |
| Credit unions that viewed yesterday’s NAFCU webcast were told that creativity in the loan arena is essential for the industry to thrive in this tough economy and that it would be difficult for any institution to maintain profitability without some degree of risk. |
| |
| 02/03/10 - Administration eyes FDIC fund increase |
| One of the myriad proposals in the president’s fiscal 2011 budget is to grow the size of the FDIC Deposit Insurance Fund, which is currently required by law to maintain an operating ratio between 1.15 percent and 1.5 percent of insured deposits – a target it has yet to approach amid growing numbers of bank failures. |
| |
| 02/03/10 - Becker hits plan for excluding CU MBLs |
| NAFCU President Fred Becker on Tuesday noted extreme disappointment with the administration’s continued failure to recognize credit unions as part of the solution to the challenges facing America’s small businesses. |
| |
