Regulatory & Compliance

ALEXANDRIA, Va. -- The increased revenues from premiums and recapitalization are offsetting some of the losses to the NCUSIF and the fund's net income was $150 million last month, the NCUA board was told today.

WASHINGTON - Because credit unions "in no way'' caused the current financial crisis, there is no reason to impose further restraints on them, House Financial Services Committee Chairman Barney Frank told CUNA's Governmental Affairs Conference today.

WASHINGTON - Praising credit unions for their work on behalf of working Americans, Senate Banking Committee Chairman Christopher Dodd (D-Connecticut) said today that "I regret you are paying the prices for errors made by others."

Washington -- During CUNA's Governmental Affairs Conference, the board of the National Federation of Community Development Credit Unions has come out in favor of making TARP funds available to struggling credit unions.

WASHINGTON - NCUA Vice Chairman Rodney Hood told credit union leaders today "this is your time to be bold, be heard, and to be there."

One of the credit union movement's best friends in Congress was on the ropes politically. So who are you going to call?

WASHINGTON - The credit union system has thrived in large part because of the corporates and that's why the NCUA is working hard to come up with a viable rescue plan, NCUA Board Member Gigi Hyland said today.

Government regulator stress testing will probably result in some form of nationalization for the nation's largest banks, say credit union economists.