WASHINGTON -- The Bush administration asked Congress for the authority to lend money to and buy shares in Fannie Mae and Freddie Mac, should those mortgage buyers need the additional capital.

WASHINGTON -- The Senate was scheduled Friday afternoon to resume consideration and possibly vote on a measure that would provide relief to those affected by the subprime crisis in part by expanding the availability of government-insured mortgages.

WASHINGTON--Credit unions and other financial institutions have until Nov. 1 to develop and implement identity theft prevention programs, the Federal Trade Commission reminded them this week.

WASHINGTON -- Sen. Mary Landrieu (D-La.) has become the fifth co-sponsor of a measure that would provide comprehensive regulatory relief to credit unions.

WASHINGTON -- CUNA and NAFCU are both urging lawmakers to eliminate or delay the implementation of a measure to require payment card processors to report how much stores and restaurants receive from debit and credit card transactions.

WASHINGTON -- Any effort to improve the way financial services are regulated should include giving credit unions a risk-based capital system because it would benefit consumers, CUNA President Dan Mica wrote chairman and ranking Republican of the House Financial Services Committee.

WASHINGTON -- Despite their recent problems in light of the subprime crisis, Fannie Mae and Freddie Mac are "adequately capitalized," Treasury Secretary Henry S. Paulson told lawmakers today.

WASHINGTON -- The controversy over Unrelated Business Income Tax will be discussed from the management and accounting perspectives at NASCUS' annual meeting next month in Seattle.