Archive for October, 2009
Just two weeks after House members approved H.R. 3606, the CARD Act Technical Corrections Act, by voice vote, their colleagues in the Senate voted by unanimous consent to ratify the bill. Next stop for the measure: The president’s desk to be signed into law.
Credit union loan balances rose a less-than-expected 0.09% in September, down from last year’s pace of 0.53%, according to a CUNA economist’s analysis of CUNA’s monthly sample of credit unions.
Although sympathetic with congressional intent to ban abusive practices connected with overdraft protection plans, CUNA will testify today that pending bill H.R. 3904 is not the way to go.
Former members of Los Angeles-based Second Baptist Church CU will now be served by Rancho Dominguez, Calif.’s Prosperity FCU after the National Credit Union Administration on Thursday announced that it is liquidating the failed credit union, Second Baptist.
Forbes and the Boston Globe are among the media that have broadcast positive news about credit unions’ credit card behaviors from a study by Pew Charitable Trusts.
Members of Sarasota (Fla.) Coastal CU voted Sunday during a special member meeting to merge with Achieva CU, Largo, Fla., on Monday. More than 86% of members voted in favor of the merger.
This week saw several government warnings and alerts about financial frauds as well as several credit unions reporting other scams that could spook some accountholders. But these are no Halloween pranksters.
Sunday’s H&FF Radio will feature policy experts tackling recession issues facing families. They include: tips if you are falling behind on car payments, how to handle intergenerational wealth planning, credit score advice and techniques to manage your personal cost of living.
Rod Staatz, president/CEO of SECU in Maryland, will testify Friday on overdraft issues before the House Financial Services Committee on behalf of CUNA and credit unions.
Commenting on recently introduced draft legislation aimed at controlling systemic risk in the financial system, CUNA Vice President of Legislative Affairs Ryan Donovan said that CUNA “does not believe credit unions pose a systemic risk to the financial system.” He added that credit unions will likely not be “covered by or effected directly by the legislation.”