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The NCUA schedules a special meeting to right a rule-making wrong.
"Regulations create binding legal obligations."
An Inspector General report released Tuesday shows thousands of ineligible loans were made by credit unions and banks.
NAFCU renews its call for Congress to require merchants to comply with the same data security standards as FIs.
In part, one CUNA official says "the findings in the report, while incredibly disappointing, are sadly not surprising."
In 2014 the board approved a rule that allowed some credit union involvement in derivatives. This proposed rule expands on that.
The acting comptroller plans to offer special charters to companies handling payments, despite vehement opposition by FI groups.
Sen. Crapo, in part, argues that "credit unions must not be deterred from continuing to play a key role in the recovery."
Less than a month until Election Day, CUNA and NAFCU have a list of credit union-friendly candidates they are supporting.
Congress will not consider the defense bill until it returns for a lame duck session after the election.