CUNA Mutual Group is eliminating the jobs of 52 people, cutting expenses and switching to a cash-balance pension to save money, the company announced last week.

The NCUA would "maintain its authorities with regard to credit unions," according to a draft of the Obama administration's regulatory restructuring plan that is scheduled to be released later today.

The credit union glass is half full.

Lobbyists for credit unions are back on the defensive over interchange fees as a result of measures recently reintroduced in Congress.

The credit union movement has faced a number of economic and regulatory challenges in recent months.

In another sign that the economy may be beginning to pick up steam, housing starts increased 17.2% to a seasonally adjusted annual rate of 532,000 in May, the Commerce Department reported today.

Credit cards, mortgages and other financial products would be under the jurisdiction of a new agency according to a proposal to be unveiled tomorrow by President Obama.

Credit unions would be placed at a competitive disadvantage and could lose money if Congress passes legislation designed to clamp down on interchange fees, CUNA and NAFCU wrote lawmakers.