The National Association of Mortgage Professionals has sued the Federal Reserve to block a proposed rule that would bar mortgage brokers from being paid by commission on mortgages written.

ATLANTIC CITY, N.J. — Do not expect an easy fix for the US economy, said Mike Schenk, vice president of economics at CUNA, at the “Credit Union Reality Check” conference in Atlantic City.

Hawaii’s two largest credit unions have now joined their peers in California and elsewhere in waiving international wire fees for members sending funds to friends and families in disaster-stricken Japan.

The $147 million Industrial Credit Union in Boston is moving its core processing business from Open Solutions Inc. to an Open Solutions outsourcing partner, COCC of Avon, Conn.

The $176 million Cabrillo Credit Union in San Diego is now offering its 23,000 members the ability to sign loan documents online.

The National Association of Realtors announced this morning that existing home sales fell off in February, sliding 9.6% to a seasonally adjusted annual rate of 4.88 million units in February.

The $726 million Altura Credit Union of Riverside, Calif., is contributing support to the Japan Relief Fund effort for victims of the Japanese earthquake and tsunami.

Because CUSOs are not considered financial institutions, the National Association of Credit Union Service Organizations said they should not be required to disclose certain incentive based compensation arrangements.