Michael E. Fryzel became chairman of the National Credit Union Administration (NCUA) yesterday in Chicago, said the agency in a release.

Credit unions and the movement’s organizations based in Southern California reported no damages from the 5.8 magnitude earthquake that hit the Los Angeles area Tuesday morning.

Four House members who were proponents of the Unlawful Internet Gambling Enforcement Act as it made its way into public law have sent a joint letter to the Treasury Secretary and Federal Reserve Board chairman questioning implementation.

Credit unions in today’s economy should pay special attention to asset-liability management and third-party due diligence, advised NCUA Board Member Gigi Hyland in remarks this week to the Metropolitan Area Credit Union Association, a group of Washington, D.C.-area credit unions.

The National Credit Union Administration should implement its three proposals to expand the definition of incidental powers for federal credit unions, but it should also go further than its current plan, according to CUNA.

Anheuser-Busch Employees CU provided consumers examples of just how safe deposits are in credit unions by explaining different types of coverage in an article in the St. Louis Post-Dispatch.

A Pennsylvania court decision earlier this month regarding field of membership issues in the state re-emphasized what credit unions in Michigan have to be thankful for, according to the Michigan Credit Union League.

July 29, 2008, Alexandria, Va. — Michael E. Fryzel became Chairman of the National Credit Union Administration today in Chicago, Ill. The Honorable Lee Preston, Judge of the Cook County Circuit Court and longtime friend of Chairman Fryzel, administered the oath of office at noon CDT.

July 28, 2008, Alexandria, Va. — The National Credit Union Administration (NCUA) announces that the agency placed New London Security Federal Credit Union of New London, Connecticut, into liquidation today.

July 28, 2008, Alexandria, Va. – National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood met with Mr. Jiang Dingzhi, Vice Chairman of the International Department for the Chinese Banking Regulatory Commission (CBRC) during his recent trip to Beijing, China. (Photo below) The purpose of the meeting was to gain a broader understanding of the Chinese financial system and to share best practices of financial regulation.