Search Results

WASHINGTON - Financial experts have been talking for years about the advent of the checkless society, but despite technological advances paper checks have remained a dominant form of consumer payment. Consumers still haven't entirely gone checkless, but new data collected by the Federal Reserve System suggest that in their effort...

WASHINGTON - Whatever the long-term effects of the Fed's plans to adopt a single standard for MICR detail transmission, the short-term ramifications are sure to include some change in practices by item processors. The Fed's standard will conform to the ANSI ASC X9.37 format. It plans to have the standardization...

WASHINGTON-In withdrawing her name from the presidential nomination as chair of the Federal Housing Finance Board (FHFB), former NCUA Board member Shirlee Bown said the decision just made sense. Originally, Bown believed that she would be nominated to serve a full seven-year term. She ultimately realized that she would only...

ALEXANDRIA, Va.-Everything about NCUA Executive Director Len Skiles says U.S. Marine Corps: from the obvious antique, framed Marine Corps poster on the wall of his office and the Marine Corps coasters, to his short, neatly combed hair and finely pressed shirt. His pet bird can even whistle the Marine Corps...

MADISON, Wis.- A Consumer Federation of America and Center for Economic Justice report finds that credit unions are the only financial institutions that consistently meet or surpass the minimum consumer benefit mark for credit insurance. The credit insurance industry minimum recommended by the National Association of Insurance Commissioners is a...

BALTIMORE, Md. - Now that the NCUA Board has approved Maryland's member business lending rule, the state Division of Financial Regulation is turning its attention to private insurance for the state's 11 credit unions. Maryland became the fourth state to have an NCUA-approved MBL rule. The agency approved the proposed...

SAULT STE. MARIE, ONTARIO- The grand opening of the Anishinabek Nation Credit Union is a historic moment that has been seven years in the making. Not only is it the first aboriginal financial institution ever chartered in the province of Ontario, but it is also the only credit union charterd...

TUKWILA, Wash. - Gary Oakland, president/CEO, Boeing Employees' Credit Union called the NCUA Board's rejection of the Petition for Rulemaking filed by the credit union "a major disappointment for the dual chartering system." Oakland said the effort by federally insured credit unions to create a more open and accountable system...