CUNA and NAFCU criticized proposed Federal Reserve rules that would increase disclosure requirements on credit protection products but had more mixed assessments of other parts of the plan.

John McKechnie, who has headed the NCUA's Office of Public and Congressional Affairs for almost five years, plans to leave the agency early next year to take an as yet unannounced job in the private sector.

Congress has passed a two-year wage freeze for executive branch employees but the NCUA said it hasn't decided whether it will adopt it for the agency's employees.

House Financial Services Committee Chairman-Elect Spencer Bachus (R-Ala.) will speak at CUNA's Governmental Affairs Conference, the association announced.

Credit unions lost one of their strongest congressional allies this year and will have to deal with more Republicans in both the House and Senate next year.

The Federal Reserve's proposed rule on interchange fees won't help merchants enough and will still help big banks keep high profits at their expense, the Merchants Payment Coalition wrote Congress.

The NCUA will be able to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury Department as a result of legislation passed by the House on Wednesday night.

CUNA's and NAFCU's political action committees spread their financial largesse generously this campaign cycle, though they have been raising and spending less than they did two years ago,