NAFCU is launching efforts in the districts of eight members of the House Financial Services Committee to persuade them to oppose a measure that would allow the government to control interchange fees.

The recession and its widespread job losses caused a 32 basis point increase in loan delinquencies, according to data released today by the American Bankers Association.

Credit unions received some regulatory relief today when the Federal Accounting Standards Board today allowed for greater flexibility when companies value their investments.

WASHINGTON -- CUNA President Dan Mica told lawmakers last week that placing credit unions under the same regulator as banks would be like "having a chicken being put into the fox lair."

House Financial Services Committee Chairman Barney Frank cited comments from Britain's top regulator to back up his own belief in the need for stronger regulation of financial services.

The NCUA plans to announce that it won't "take exception" if a credit unions gets a written opinion from its accountant allowing it to delay the recording of expenses for additional premiums.

Citing misconduct by prosecutors in its own department, the U.S. Department of Justice today announced it was asking a federal judge to drop corruption charges against former Sen. Ted Stevens, R-Alaska.

The NCUA wants Congress to create a stabilization fund financed by a larger line of credit from the Treasury Department so credit unions can spread out over seven years premiums for the cost of placing U.S.