Sen. Susan Collins (R-Maine) Thursday successfully offered an amendment to an appropriations bill that struck language that would have banned payment card networks from charging the federal government a credit card interchange rate higher than the lowest interchange rate available on the market.

The recent Capitol Hill battle that embroiled a small business jobs package has taken its toll on that legislation, but credit unions have been able to use the process to shine a positive light on increased member business lending, said CUNA Senior Vice President of Legislative Affairs John Magill Thursday.

The practice of providing so-called “golden parachutes” to departing executives would be prohibited for financially troubled federally insured credit unions under a proposed rule approved by the National Credit Union Administration on Thursday.

The National Credit Union Administration at its July open Board meeting officially adopted an interim final rule amending its Truth in Savings regulations to reflect recent clarifications that were made by the Federal Reserve.

Stan Hollen, president/CEO of CO-OP Financial Services, has received the first of what will be an annual award for contributions to worldwide credit union women’s leadership development from the Global Women’s Leadership Network, a program of World Council of Credit Unions.

Following the lead from the United Nations designating 2012 as the International Year of Cooperatives, the World Council of Credit Unions’ board of directors unanimously passed a resolution–underscoring the cooperative nature of credit unions– by Credit Union Development Educators at The 1 Conference in Las Vegas.

Speaking before a House subcommittee hearing on Thursday, Clearview FCU’s Ron Celaschi said that “any reduction in interchange revenue” would deal a “serious blow” to his credit union and its members.

Less than two months after a tornado destroyed its Millbury, Ohio-based office, Woodco FCU is up and running in its new Perrysburg location as of July 19.

Sunday’s H&FF Radio program presents information about what new mortgage rules mean for home buyers and those looking to refinance, how the new financial regulation bill affects consumers, and other money management topics.