Senate Majority Whip Richard Durbin is "disappointed," with the arguments made by CUNA and the Independent Community Bankers of America in opposing his amendment to regulate interchange fees.

Sabine FCU of Orange, Texas today assumed the assets of Orange County Employees CU after the Texas Credit Union Department named the NCUA liquidating agent of Orange County Employees CU.

House and Senate conferees today began the process of reconciling the two chambers' versions of the regulatory overhaul legislation.

At next Thursday's board meeting the NCUA plants to announce the amount and due date of the assessment to pay back the loan from the Treasury Department that created the Temporary Corporate Credit Union Stabilization Fund.

The issue of regulating interchange fees will be one of the topics lawmakers have to deal with when the House-Senate conference committee meets today to reconcile the differences between the financial reform bills passed by both chambers.

Credit unions would have to book their loans at their current value on their balance sheets under proposed rules issued by the Financial Accounting Standards Board.

Proposed new regulations on mergers and mutual bank conversions encroach on state autonomy,

WASHINGTON - Last night several hundred credit union executives geared up for today's meetings with lawmakers on interchange by nibbling on hors d'oeuvres and listening to speeches from CUNA leaders.