National party committees and senior lawmakers on the committees that oversee credit unions are among the recipients of contributions from the political action committees of CUNA and NAFCU.

House Democrats set aside seniority today and chose Rep. Sander Levin (D-Mich.) to chair the Ways and Means Committee.

WASHINGTON -- NCUA Board Member Gigi Hyland said credit unions will thrive in the future, while Board Member Michael Fryzel urged credit unions to use their good reputation as a basis for getting legislative priorities passed by Congress.

Embattled Rep. Charles Rangel (D-N.Y.) said today he is taking a leave of absence from his post as chairman of powerful House Ways and Means Committee, in the wake of having been admonished by the Ethics Committee.

Citing numerous financial problems related to the building of a new headquarters office, the NCUA issued a cease and desist order that Rapid City Telco FCU agreed to.

WASHINGTON -- Even when companies start hiring again, it will be some time before there is a serious dent in the unemployment rate, former Federal Reserve Chairman Alan Greenspan told attendees of CUNA's Governmental Affairs Conference.

If the House follows seniority, Rep. Pete Stark (D-Calif.), who once started and ran a community bank in suburban San Francisco, would be the next chairman of the House Ways and Means Committee.

Talk about bad timing for credit unions.