Regulatory & Compliance

WASHINGTON -- Senator Mike Crapo (R-Idaho) is working on regulatory relief legislation containing a lot of things banks want but few that credit unions seek, sources say.

WASHINGTON -- Senator Mike Crapo (R-Idaho) is working on regulatory relief legislation containing a lot of things banks want but few that credit unions seek, sources say.

Over the past two years, 368 banks have stopped participating in the Small Business Administration's lending programs, the agency said.

The Massachusetts Division of Banks recently recognized Leominster Credit Union for its community outreach efforts.

Some grocery and supermarket employees have become eligible for credit union membership after the NCUA approved the first Trade, Industry or Profession field of membership for a grocery and supermarket industry across the U.S.

The Financial Accounting Standards Board has given state chartered CUs more time to evaluate, estimate, and disclose their potential tax liabilities for unrelated business activities on their balance sheets.

NCUA recently announced that it has selected the $623 million Public Service Credit Union to take over what remains of Norlarco Credit Union.

Greylock Federal Credit Union has earned the Small Business Administration's top credit union lender ranking in Massachusetts for the third year in a row.