| 02/26/10 - 4 nominated for FinCEN’s BSA group |
| NAFCU nominated four member credit unions for inclusion on the Financial Crimes Enforcement Network’s Bank Secrecy Act Advisory Group, which advises the Treasury secretary on BSA operations. |
| |
| 02/26/10 - Bernanke notes CU service to low-income people |
| Federal Reserve Chairman Ben Bernanke touched on a wide range of issues before the Senate Banking Committee Thursday, including the role that credit unions and community banks play in serving low-income communities. |
| |
| 02/26/10 - CFPA proposal may be shifting NAFCU’s way |
| The Obama administration as well as the Senate Banking Committee may be moving toward a financial industry regulatory reform package that comes closer to what NAFCU has been proposing with respect to consumer financial protections. |
| |
| 02/26/10 - FFIEC updates retail payments booklet |
| The Retail Payment Systems Booklet in federal regulators’ information technology examination handbook series was updated and is available now for downloading, the Federal Financial Institutions Examination Council said Thursday. |
| |
| 02/26/10 - Geithner: No GSE reform until 2011 |
| Treasury Secretary Tim Geithner told Congress this week that the administration will hold off on proposing reform of Fannie Mae and Freddie Mac until next year. |
| |
| 02/26/10 - NAFCU witness testifies for MBL cap lift |
| Rick Wieczorek, president of Mid-Atlantic FCU in Germantown, Md., will tell a joint hearing of two House committess today that credit unions are doing their best to help small businesses get funding, but they are limited by the 12.25 percent-of-assets cap on member business lending. |
| |
| 02/26/10 - NCUA liquidates Friendship Community FCU |
| NCUA yesterday said it liquidated Friendship Community FCU of Clarksdale, Miss., and accepted Shreveport FCU’s offer to purchase and assume the credit union’s assets, loans and shares. |
| |
| 02/25/10 - Frank: MBL lift good for economy |
| House Financial Services Chairman Barney Frank, D-Mass., said he believes increasing credit unions’ member business lending authority would be good for the economy, but he said the issue is controversial and encouraged credit unions to keep pressing. |
| |
| 02/25/10 - Matz assures Geithner anew on MBL |
| NCUA Chairman Debbie Matz yesterday assured Treasury Secretary Tim Geithner that if Congress were to raise or remove the member business loan cap for credit unions, NCUA would be vigilant in supervising such activity. |
| |
| 02/25/10 - NAFCU calls Bernanke on tax exemption comments |
| Over the last 90 years, neither Congress nor any government agency has said credit unions’ tax-exempt status was in exchange for restrictions on their activities, NAFCU President Fred Becker said in a letter to Federal Reserve Chairman Ben Bernanke. |
| |
| 02/25/10 - NAFCU to make another MBL push Friday |
| Rick Wieczorek, president and CEO of Mid-Atlantic FCU, will deliver NAFCU’s views tomorrow on the need to raise the credit union member business loan cap during a hearing held jointly by the House Financial Services and Small Business committees. |
| |
| 02/25/10 - NAFCU urges Warner, Corker on resolution fees |
| The leaders of the Senate Banking Committee are expected soon to reveal a revamped financial regulatory reform bill, and NAFCU is urging that the asset-size threshold for institutions required to pay resolution fees be set at $50 billion or more. |
| |
| 02/25/10 - The Hill runs MBL piece; Senate omits cap lift |
| In today’s The Hill newspaper, NAFCU President Fred Becker said President Obama’s $30 billion capital program for community banks in the name of more small-business lending is well-intended but flawed in ignoring calls for a credit union member business loan cap lift. |
| |
| 02/24/10 - FDIC reports 702 problem banks at year-end |
| The FDIC said Tuesday that its problem list of insured banks rose from 552 on Sept. 30 to 702 on Dec. 31, with the current list representing aggregate assets of $402.8 billion. |
| |
| 02/24/10 - Hyland touts collaboration, notes MBL issue |
| Credit unions must emphasize collaboration and education in order for the industry to have a sustainable future, NCUA Board Member Gigi Hyland told credit unions at a meeting in Washington Tuesday. |
| |
| 02/24/10 - Online guide explains overdraft rule changes |
| An online publication explaining rule changes for overdraft services and fees that take effect July 1 was unveiled by the Federal Reserve Board Monday. |
| |
| 02/24/10 - Royce calls on CUs to defeat CFPA |
| Long-time credit union friend Rep. Ed Royce, R-Calif., on Tuesday said the proposal to create a Consumer Financial Protection Agency is “ill-advised” and urged credit unions to help defeat it. |
| |
| 02/24/10 - Senate tax package addresses Internet gambling |
| Sens. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., are eying a proposed rewrite of the federal tax code that would reduce individual and corporate tax rates, retain some popular exemptions and, among other things, address Internet gambling. |
| |
| 02/23/10 - Becker’s 10 years at NAFCU recognized |
| In a low-key, and at times humorous, segment of NAFCU’s “all staff” meeting Friday, association President Fred Becker was feted for recently marking his 10th year of service. |
| |
| 02/23/10 - CDFI-certified capital program detailed in calls |
| NCUA and the Community Development Financial Institutions Fund will hold an audioconference and conference calls over the next few weeks on the Community Development Capital Program for CDFI-certified credit unions, banks and thrifts. |
| |
| 02/23/10 - Dodd seeks info on commercial real estate lending |
| Senate Banking Chairman Chris Dodd, D-Conn., yesterday sought an update from the heads of NCUA and the federal bank and thrift agencies on how their guidance last fall on commercial real estate loan workouts is helping to stabilize the CRE market. |
| |
| 02/23/10 - Fed site answers consumers’ credit card questions |
| The Federal Reserve Board has launched a new Web site consumers can use, and which card issuers are required to promote, to find out more about Credit CARD Act rules that took effect Monday. |
| |
| 02/23/10 - Senate limits jobs debate; MBL cap lift noted anew |
| The Senate voted 62-30 Monday to limit debate on a pared-down jobs bill, action that could signal an opening for a NAFCU-sought member business loan cap lift for credit unions. |
| |
| 02/23/10 - Week of hearings ahead on financial stability, more |
| The House Financial Services Committee begins a series of hearings today focusing on the nation’s financial stability, monetary policy and issues related to financial industry regulatory reform. |
| |
| 02/22/10 - Core inflation data point to low Fed target rate |
| January’s low core inflation reading should allay concerns that the Federal Reserve will soon follow last week’s increase in the discount lending rate with an increase in the federal funds rate, NAFCU Staff Economist Katrin O’Connor said. |
| |
| 02/22/10 - Discounts end Wednesday for RESPA webcast |
| Credit unions have until Wednesday to receive discounts on NAFCU’s March 3 webcast, which will detail requirements for compliance with Real Estate Settlement Procedures Act provisions that took effect Jan. 1. |
| |
| 02/22/10 - Fed proposes to clarify overdraft under Regs E, DD |
| The Federal Reserve Board issued two proposals for comment Friday that would revise provisions of Regulations E and DD affecting overdraft services, and comments are due 30 days after the proposals appear in the Federal Register. |
| |
| 02/22/10 - HAMP permanent loan modifications surge |
| More than 116,000 homeowners have received permanent mortgage-loan modifications via the government’s Home Affordable Modification Program, according to January data from Treasury and the Department of Housing and Urban Development. |
| |
| 02/22/10 - NCUA, employees union to work together |
| NCUA Chairman Debbie Matz and Colleen Kelley, president of the National Treasury Employees Union, will sign a partnership agreement on March 2 that NCUA says will set up a process for employee input to workplace matters. |
| |
| 02/22/10 - WSJ notes CUs’ lower rates as new rules kick in |
| A Feb. 20 Wall Street Journal article on how banks are responding to new Credit CARD Act rules taking effect today offers a possible alternative for consumers, noting that credit unions can be a source of lower-cost credit. |
| |
| 02/19/10 - Alternative bill may add agency consumer offices |
| Sen. Richard Shelby, R-Ala., the ranking member of the Senate Banking Committee, is working with other committee Republicans to draft an alternative to the regulatory reform measure released last fall by panel Chairman Chris Dodd, D-Conn. |
| |
| 02/19/10 - Corporates’ legacy assets still under review |
| NCUA is still reviewing how it will address – and define – legacy assets for corporate credit unions, and the agency has yet to determine when that review will be complete, according to senior staff in NCUA’s online town hall meeting Thursday. |
| |
| 02/19/10 - Fed hikes discount rate on cusp of hearings |
| The Federal Reserve’s move to increase the rate it charges banks for emergency loans from 0.50 percent to 0.75 percent on Thursday underscores NAFCU’s view that a Fed report to Congress next week will show increased optimism about economic conditions. |
| |
| 02/19/10 - LICUs have until April to request CDC funds |
| Low-income credit unions have until April 2 to apply for funds from the Community Development Capital Program at Treasury, but they have until April 16 to obtain the required certification as community development credit unions. |
| |
| 02/19/10 - Matz calls anew for MBL cap lift as jobs bill nears |
| NCUA Chairman Debbie Matz on Thursday reiterated her support for Congress eliminating the current, arbitrary limit on credit union member business lending, noting that such action would be followed by NCUA rulemaking on sound MBL practices and limits. |
| |
| 02/19/10 - NCUSIF losses, code 4 and 5 CUs up |
| NCUA is budgeting for a possible $750 million in insurance losses in 2010, a figure exceeding last year’s estimated losses by nearly $125 million, according to data released during yesterday’s open NCUA Board meeting. |
| |
| 02/18/10 - FFIEC: Mortgage fraud on rise, schemes evolving |
| Mortgage fraud against financial institutions rose 23 percent from 2007 to 2008 and today constitutes a mix of familiar schemes and some new ones, including “buy and bail,” “chunking,” “double selling” and more. |
| |
| 02/18/10 - Flash respondents say compliance costs rising |
| Nearly all respondents to NAFCU’s February Flash survey said they expect overall compliance costs to rise this year, with 69.8 percent projecting more staff time required, but only a fraction are taking mitigating action in response to new credit-card rules taking effect next Monday. |
| |
| 02/18/10 - NAFCU webcast details overdraft, credit card rules |
| NAFCU’s compliance team provided webcast participants a thorough overview Wednesday of Credit CARD Act rules taking effect Monday as well as requirements ahead for overdraft programs, also known as courtesy pay or bounce protection. |
| |
| 02/18/10 - Revised, restructured GSE housing goals eyed |
| Federal housing goals in 2010 and 2011 for Fannie Mae and Freddie Mac would be revised, restructured and only factor in conventional mortgages under a proposal released Tuesday by the Federal Housing Finance Agency. |
| |
| 02/18/10 - Year-end NCUSIF results, trends on tap |
| The latest data on the condition of the National Credit Union Share Insurance Fund and insured credit unions is slated for release during today’s open meeting of the NCUA Board. |
| |
| 02/17/10 - Biliouris named Marquis’ special assistant |
| Matthew Biliouris has been named special assistant to NCUA’s executive director and takes his post March 8, the agency said Tuesday. |
| |
| 02/17/10 - CFPA, mid-term elections highlights of call-in |
| Developments on a proposed Consumer Financial Protection Agency, coming rules from NCUA on corporate credit unions and a possible shake-up in Congress through the mid-term elections were among the key issues detailed for members Tuesday during NAFCU’s Member Call-In. |
| |
| 02/17/10 - Corporate, chartering rules on tap for webinar |
| NCUA holds a 3 p.m. town hall webinar Thursday, the same day of the NCUA Board’s open meeting, on its proposed rules on corporate credit unions and community chartering and field of membership issues. |
| |
| 02/17/10 - CUs, CULookup.com touted in Kiplinger’s |
| The March 2010 issue of Kiplinger’s Personal Finance magazine includes a brief item on the aggravation of mega-banks’ fees and provides consumers links for researching better deals, including CULookup.com “for a credit union near you.” |
| |
| 02/17/10 - More work on Senate jobs bill next week |
| Further action on a Senate jobs bill is expected next week, and NAFCU will be pushing for inclusion of an amendment raising credit unions’ member business lending cap from 12.25 percent to 25 percent of assets, NAFCU Director of Legislative Affairs Brad Thaler reiterated Tuesday. |
| |
| 02/17/10 - NAFCU urges clarification on reverse mortgages |
| NAFCU has urged regulators to prioritize a bit in determining what information must be disclosed in a lender’s promotional materials, including advertisements, regarding reverse mortgages. |
| |
| 02/16/10 - Becker writes Frank on CUs and underserved |
| Instead of applying the Community Reinvestment Act to credit unions, Congress could help underserved communities more by expanding credit unions' ability to serve underserved areas and make member business loans, NAFCU President Fred Becker said in a letter to House Financial Services Chairman Barney Frank, D-Mass. |
| |
| 02/16/10 - Ditka, Kurtis and Cubs top A.C. offerings |
| Legendary NFL star and Hall-of-Famer Mike Ditka, acclaimed broadcast journalist Bill Kurtis and a Chicago Cubs-St. Louis Cardinals baseball game top the lineup of speakers and events at NAFCU’s 43rd Annual Conference & Exhibition, July 20-24 at Navy Pier Chicago. |
| |
| 02/16/10 - Interim final rule on LICU secondary capital online |
| Credit unions can download NCUA’s Feb. 9 interim final rule on secondary capital, designed to facilitate low-income credit unions’ participation in a new Treasury program, directly from the agency’s Web site. |
| |
| 02/16/10 - NAFCU: Tell senators 'no CFPA for CUs' |
| NAFCU President Fred Becker on Friday urged member credit unions to contact their U.S. senators during this week’s recess and let them know they are firmly against being made subject to any regulatory or examination authority of a Consumer Financial Protection Agency as proposed under financial regulatory reform. |
| |
| 02/16/10 - Retail sales inch up, overall weakness remains |
| January’s retail sales increase was the third in the past four months, but that upward trend is not an indication that strains on consumer spending will be alleviated anytime soon, NAFCU Staff Economist Katrin O’Connor said. |
| |
| 02/12/10 - ABC News follows up on Move Your Money |
| The Huffington Post’s Move Your Money campaign, which calls for people to move their banking from larger institutions to smaller ones, gained more nationwide media coverage Wednesday evening with a brief follow-up report on ABC World News with Diane Sawyer. |
| |
| 02/12/10 - Becker criticizes Geithner on lending comments |
| NAFCU President Fred Becker on Thursday welcomed Treasury Secretary Tim Geithner’s report that the administration’s financial stability plan is working at less expense to taxpayers than anticipated, but he took significant issue with Geithner’s characterization of the state of lending over the past year. |
| |
| 02/12/10 - Dodd, Corker team up on financial reform |
| Senate Banking Chairman Chris Dodd, D-Conn., announced Thursday that he has enlisted Sen. Bob Corker, R-Tenn., to work with him in negotiating a committee bill on financial industry regulatory reform. |
| |
| 02/12/10 - NCUA Board to discuss LICU capital rule |
| A briefing on the interim final rule the NCUA Board approved Monday for low-income credit union capital is included on the Feb. 18 open meeting agenda for the board, along with a report on the National Credit Union Share Insurance Fund. |
| |
| 02/12/10 - Senate jobs bill near, NAFCU eyes for MBL |
| NAFCU will be working in coming weeks to win support for including a credit union member business loan cap lift in a Senate jobs bill, but just what that bill will look like was thrown into doubt Thursday following reports from the office of the Senate Majority Leader. |
| |
| 02/11/10 - Fed eyeing further monetary policy moves |
| The Federal Reserve’s monetary policy outlook hasn’t changed much in recent weeks, but the central bank is preparing several new approaches to help strengthen the economic recovery even as it winds down numerous support programs. |
| |
| 02/11/10 - Financial calculators available via NAFCU Services |
| NAFCU Services Corporation is offering NAFCU member credit unions financial calculators they can add to their Web sites to provide interactive education tools to their current and potential members. |
| |
| 02/11/10 - LICU capital rules revised for Treasury program |
| An interim final rule revising the rules on redemption of low-income credit unions’ secondary capital was approved Monday by the NCUA Board to facilitate the credit unions’ participation in the Treasury Community Development Capital Program. |
| |
| 02/11/10 - Member Call-In rescheduled for Feb. 16 |
| NAFCU's Member Call-In, canceled because of severe winter weather, has been rescheduled for Tuesday, Feb. 16, from 4-5 p.m. Eastern. |
| |
| 02/11/10 - NAFCU staff snowed in but on the job |
| The federal government, NAFCU and other businesses are closed again today due to weather conditions in the Washington, D.C., area, but association staff are making good use of the Internet and the telephone in ensuring continued member service. |
| |
| 02/10/10 - County may sponsor, not own, an FCU |
| A county government can assist in the organization and operation of a federal credit union but cannot “own” the institution, according to a Jan. 21 legal opinion by NCUA Deputy General Counsel Mike McKenna. |
| |
| 02/10/10 - NAFCU closed again, rescheduling Member Call-In |
| Due to severe winter weather in Washington, NAFCU is postponing today’s Member Call-In and will reschedule it in the coming week. |
| |
| 02/10/10 - NAFCU urges anew: No CFPA for CUs |
| While NAFCU agrees with TARP Congressional Oversight Panel Chair Elizabeth Warren that steps are needed to protect consumers from bad actors in the financial services industry, the association will continue to oppose the application of the Consumer Financial Protection Agency to the credit union industry. |
| |
| 02/10/10 - NCUA: CUSO may offer reg compliance services |
| A credit union service organization may provide regulatory compliance services for credit unions, NCUA said in a Jan. 25 legal opinion letter to a law firm in Media, Pa. |
| |
| 02/10/10 - Reg compliance webcast one week away |
| Today is the final day to receive registration discounts for NAFCU’s Feb. 17 webcast, where NAFCU Director of Regulatory Compliance Anthony Demangone and his team will discuss upcoming regulatory compliance deadlines. |
| |
| 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. |
| |
| 02/03/10 - FHFA, NCUA still talking on fraud resolution |
| Discussion between the Federal Housing Finance Agency and NCUA regarding a case of mortgage fraud affecting credit union partners of Fannie Mae is “moving forward,” said the FHFA’s general counsel in a recent letter to Sen. Robert Menendez, D-N.J. |
| |
| 02/03/10 - Latest bank failures to cost $1.86 billion |
| The FDIC has estimated that the six bank failures announced late last Friday will cost the Deposit Insurance Fund about $1.86 billion. |
| |
| 02/02/10 - Hearings on fiscal 2011 budget begin |
| The Senate Finance and Senate Budget committees begin hearings today on the president’s $3.8 trillion budget proposal, which would implement a proposed bank fee, provide incentives to spur small-business activity, cut taxes for the middle class and more. |
| |
| 02/02/10 - NAFCU AC site ‘connects’ you to Chicago |
| Credit unions can “Connect in Chicago” and get all the information they need to plan and register for NAFCU’s 43rd Annual Conference and Exhibition – set for July 20-24 at Navy Pier in Chicago – by going to www.nafcu-annual.org. |
| |
| 02/02/10 - NAFCU-sought CLF cap lift in Obama budget |
| NAFCU President Fred Becker on Monday lauded President Obama for proposing, through his 2011 budget, to continue a NAFCU-sought lift of the arbitrary cap on the Central Liquidity Facility’s borrowing authority through fiscal 2011, a move that would ensure credit unions continued access to emergency liquidity should the need arise. |
| |
| 02/02/10 - Treasury rep to testify on banks’ risk-taking |
| Treasury Deputy Secretary of Neal Wolin will testify along with former Federal Reserve Board Chairman Paul Volcker in today’s Senate Banking Committee hearing on prohibiting high-risk investment activities by banks and their holding companies. |
| |
| 02/02/10 - Whitehead to Region V, Walters to Region II |
| Elizabeth Whitehead has gone from being associate director in NCUA’s Region I to director of Region V, replacing Jane Walters, who has resumed her previous post as director of Region II. |
| |
| 02/01/10 - 2 Senate Banking hearings on ‘Volcker rule’ |
| The Senate Banking Committee has added a second hearing to its list this week for examining the president’s proposal for limiting banks’ growth and investment risk, or the “Volcker rule.” |
| |
| 02/01/10 - 4Q GDP data not a sign of growth to come |
| The robust pace of economic growth estimated for the fourth quarter of 2009 should not be interpreted as a harbinger of growth for 2010, NAFCU Staff Economist Katrin O’Connor said. |
| |
| 02/01/10 - Free webcast details NAFCU-Fannie alliance |
| NAFCU’s Feb. 11 webcast will address the steps required to be a Fannie Mae-approved mortgage provider and the benefits NAFCU members enjoy through the association’s alliance with the government-sponsored enterprise. |
| |
| 02/01/10 - NAFCU urges extended 7(a) fee waiver |
| NAFCU President Fred Becker on Friday urged Congress and the Small Business Administration to extend through 2010 a fee waiver for SBA-backed loans, including those provided under the 7(a) and 504 programs. |
| |
| 02/01/10 - NCUA UDAP rule withdrawn effective July 1 |
| The NCUA Board on Friday voted to withdraw its final rule on unfair and deceptive acts or practices, which is rendered unnecessary by the Federal Reserve Board's Credit CARD Act rules. |
| |
| 02/01/10 - NCUSIF may show 1.24% at 2009 year-end |
| Final results for the National Credit Union Share Insurance Fund could show the fund ending 2009 at 1.24 percent of insured shares, three basis points below the agency’s last projection, NCUA Chief Financial Office Mary Ann Woodson said Friday. |
| |
| 02/01/10 - Treasury, HUD revise HAMP guidance |
| The Treasury and Department of Housing and Urban Development released updated guidance last week that refines documentation requirements under the Home Affordable Modification Program in an effort to move more trial mortgage modifications into permanent ones. |
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