The House on Wednesday approved a technical corrections bill that would provide the National Credit Union Administration with new tools to address both troubled individual credit unions and the larger corporate credit union crisis.

While well intentioned, the Fed’s proposed $10 billion interchange exemption threshold could create “an unlevel playing field” for credit unions and other small issuers, Reps. Spencer Bachus (R-Ala.) and Jeb Hensarling (R-Texas) said in a recent letter.

The Fed has released an interim final rule that corrects requirements for interest-only loans to clarify that related disclosures should reflect the date of the interest rate change, rather than the date the first payment is due under the new rate.

Information technology budgets are rising at credit unions, and member-facing technologies already capture a large part of the money spent, which makes it essential to spend wisely, says a new report from the Filene Research Institute.

Oswego (N.Y.) County FCU helped a family save more than $58,000 as part of “Good Morning America’s Savings Makeover” on its ABC television show.

Three credit union executives have been elected to the CUNA 2010-2011 Board of Directors seats in contested elections.

In observance of the holidays, CUNA’s Washington, D.C., and Madison, Wis., offices will be closed Friday and Monday. News Now will not produce Friday and Monday editions, but it will resume its regular publication on Tuesday.

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