The lawmaker who circulated the "dear colleague," letter on interchange, has received contributions from the political action committees of CUNA and NAFCU during this campaign cycle.

House and Senate conferees are putting the final touches on the financial overhaul bill and were hoping to finish work Thursday evening so both chambers could vote next week.

Sperry Associates FCU must submit a net worth restoration plan, charge off $3.1 million in loans and get an outside analysis of its structured securities as part of a letter of understanding and agreement.

Though the economy is recovering and the labor market is improving, the economy is still hurt by high unemployment and modest income growth.

Credit unions filed 62,630 suspicious activity reports last year, an increase from the 57,179 filed in 2008, according to data released today by the Financial Crimes Enforcement Network.

The provisions giving the Federal Reserve the right to set interchange fees came a step closer to reality last night when Senate members of the House-Senate conference committee on financial overhaul accepted an offer made by House conferees.

Because of the interchange language, CUNA plans to oppose the financial overhaul bill moving through Congress and is asking credit unions to launch an all-out lobbying effort between now and next week's votes in the House and Senate.

Accounts of up to $250,000 at credit unions and banks would be permanently insured beyond the current expiration date of 2013, as a result of an amendment approved last week by the House-Senate conference committee on regulatory overhaul.