In light of the current economic crisis, both CUNA and NAFCU today urged lawmakers to consider changing how financial institutions do some of their accounting.

The Central Liquidity Facility was set to keep its lending ceiling at $41.5 billion, under a provision of a bill to fund the government that the Senate was set to pass.

Freddie Mac named John Koskinen to be its interim CEO and Robert Glauber to be its non-executive chairman.

Credit unions, working with the banks and moderate Democrats, seemed poised to get changes to a bill allowing bankruptcy judges to modify mortgages that will make it somewhat more palatable.

Raising the cap on member business loans would result in credit unions "straying further from their traditional mission of serving consumers," American Bankers Association President Edward L. Yingling wrote to Sen. Charles Schumer (D-N.Y.)

The $410 billion bill funding the government through September passed the Senate last night, with a provision allowing the Central Liquidity Facility to keep its lending ceiling at $41.5 billion.

At least one company stands to gain from the concern about a possible premium to replenish the NCUSIF.

Credit unions would have to comply with the provisions of the Community Reinvestment Act under a bill that Rep. Eddie Bernice Johnson (D-Texas) plans to introduce later this week.