WASHINGTON-A panel of industry officials told the Financial Services Subcommittee on Domestic Monetary Policy, Technology, and Economic Growth that the jury is still out as to whether the consumer consent clauses in the Electronic Signatures in Global and National Commerce Act (E-SIGN) are overly burdensome to industry. Most of the...

WASHINGTON-The Department of Justice (DOJ) submitted its brief for NCUA in the ABA's FOM appeal last week. CUNA, NAFCU, and State Employees Federal Credit Union, Albany, N.Y. filed a separate brief as co-defendants in the case. The ABA charged that NCUA overstepped the congressional bounds created in the Credit Union...

WASHINGTON-Being open and including every faction of the credit union community in the information gathering process of the Renaissance Commission was extremely important according to commissioners. In determining the next step for CUNA's board, self-determination for credit unions appears to be the theme. According to Renaissance Commissioner Rosie Holub, president...

ARLINGTON, Va.-Though NAFCU has always had a good working relationship with NCUA, according to NAFCU Director of Regulatory Affairs Gwen Baker, she admits that the current Republican-influenced trend toward less government interference in credit union activities this year is making her life easier. Baker certainly appreciates this, given Communications Manager...

ARLINGTON, Va.-Despite the conversions from federal to state charters, which NAFCU President and CEO Fred Becker believes is slowing or possibly stopping, NAFCU is still going strong and making improvements to the federal credit union environment, as well as to itself. Becker predicted that credit unions should be able to...

WASHINGTON-Federal Reserve Board Governor Edward Gramlich spoke to the National Savings Coalition June 25 on the importance of saving and financial education, as well as the Fed's efforts in the matter. Personal savings across the country has dropped to the negatives in the first part of the 21st century. "We...

WASHINGTON-NAFCU lobbyists and attorneys were invited to meet with the Justice Department's Office of U.S. Trustees to discuss operation issues regarding the financial education provisions of the bankruptcy abuse reform legislation, currently stalled in Congress. "Credit unions were invited because of the long standing practice credit unions have with helping...

WASHINGTON-CUNA Associate General Counsel Mary Dunn testified before the Internal Revenue Service (IRS) in opposition to its proposal on reporting of deposit interest paid to nonresident aliens. Dunn was the only credit union representative to testify. "We don't know how horrendous this is going to be," Dunn told Credit Union...