Washington, DC, September 17, 2007 – National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood delivered remarks today at the Credit Union National Association (CUNA) Payment Systems Conference. Attracting CEOs, management, and operations staff from around the country, the three-day conference addresses payment system issues. As part of his continuing effort to promote the best practices of enterprise wide risk management, Hood’s remarks concentrated on the evolving Payment Systems, Remote Deposit Capture, Money Service Businesses, and Emerging Retail Payments.

NCUA Challenges Lawsuit
September 12, 2007, Alexandria, VA –The National Credit Union Administration (NCUA) filed a motion on September 7, 2007, with the U.S. District Court for the Eastern District of Virginia, to dismiss a suit challenging credit union conversion rules promulgated by NCUA. The organization that filed the suit, the Coalition for Credit Union Charter Options, claims in its complaint that it seeks to preserve charter choice for credit unions. A hearing on NCUA’s motion is tentatively scheduled for October 19, 2007.

Joint Interagency Media Release – Federal Financial Regulatory Agencies Announce Availability of the 2006 HMDA Home Loan Data

The Insurance Report of Activity for August 2007 is available

The Multiple Common Bond Expansion report for August 2007 is available

September 7, 2007, Alexandria, VA – National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood participated in a Senior Managers Forum in Portland, Maine. Hosted by the Maine Credit Union League, the forum served as an opportunity for a frank discussion about current issues facing the credit union industry. Prior to the forum, Mr. Hood met with members of the Maine Credit Union League’s Board of Directors.

The federal financial regulatory agencies and the Conference of State Bank Supervisors (CSBS) on Tuesday issued a statement encouraging federally regulated financial institutions and state-supervised entities that service securitized residential mortgages to review to determine the full extent of their authority under pooling and servicing agreements to identify borrowers at risk of default and pursue appropriate loss mitigation strategies designed to preserve homeownership.

August 24, 2007, Alexandria, VA – National Credit Union Administration (NCUA) Board Member Gigi Hyland met with Kimberly Reed, Director of the Community Development Financial Institutions (CDFI) Fund, U.S. Department of Treasury, last week to discuss ways credit unions can enhance their already significant role with this important government program. The CDFI Fund’s mission is to expand the capacity of financial institutions to provide credit, capital, and financial services to underserved populations and communities in the United States. Currently, 133 credit unions are certified as CDFIs.

Agencies Release Revised Bank Secrecy Act/Anti-Money Laundering Examination Manual

Alexandria, Va. August 23, 2007 – The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.