Federal credit unions can reimburse associate and emeritus directors for training and training-related expenses if they are relevant to the position and if the person’s service to the credit union isn’t merely honorary.

ALEXANDRIA, Va. — Federally insured credit unions with assets of more than $50 million and smaller ones with potentially risky loan portfolios would have to have policies to evaluate the institution’s interest rate risk exposure, set risk limits and test for interest rate shocks.

Hurry up and wait. That’s what credit union leaders and compensation experts are doing as they await the final rules from the NCUA and other regulators on incentive-based compensation.

Credit unions and other opponents of the Federal Reserves proposed rule capping debit interchange fees received good news last week when bills to delay the rules implementation were introduced in the Senate and House.

The NCUA has threatened to sue four investment banks if they don’t refund $50 billion from the sale of mortgage-backed securities to five corporate credit unions that the agency conserved last year, The Wall Street Journal reported today.

Defeating the effort to raise the cap on member business loans and ending the tax exemption for credit unions are among the top priorities of the Independent Community Bankers of America this year.

Accusing him of supporting “crony capitalism,” a group of retailers have run advertisements against freshman Sen. Mike Lee (R-Utah) for being a backer of a measure that would delay the implementation of a Federal Reserve rule regulating interchange.

Three former credit union employees who were convicted or pleaded guilty of crimes have been banned by the NCUA from participating in the affairs of a federally insured financial institution.