Calling it a "special case situation," Senate Majority Whip Richard Durbin said he would work to find a way to exempt state government-issued debit cards used to distribute benefits from his amendments.

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 late yesterday by the House-Senate conference committee on regulatory overhaul.

An ad depicting a duck with a cigar in its mouth takes aim at credit unions' tax exempt status due to widespread credit union opposition of an amendment that would give the Fed the power to regulate interchange fees.

Mountain America Credit Union said it has seen a sharp reduction in false positive rates while picking up more real fraud attempts since it began using a new deposit account fraud and compliance solution.

The House last week was slated to pass a bill establishing a $30 billion fund for community banks to draw on to increase business lending.

Credit unions took their case for keeping the status quo on interchange fees to Capitol Hill last week as House and Senate conferees began their effort to reconcile the different versions of the regulatory overhaul bill.

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Though the audit of the NCUA released yesterday said the agency's finances were accurate, the report found material weaknesses in its reporting and documentation methods.