The likes of NBC Nightly News, Los Angeles Times, the
Washington Post, Detroit Free Press and Minneapolis Star-Tribune were among the dozen or so well-known outlets reporting this weekend that credit unions are ready to step in and serve consumers fed up with fees charged by big banks.

Calling cooperatives a “catalytic force,” United Nations General Assembly President Nassir Adbdulaziz Al-Nasser officially launched the 2012 International Year of Cooperatives at special ceremonies in New York Monday.

The increasing number of regulations imposed on credit unions is costly, confusing to members, and creates “an unnecessary burden without any measure of the effectiveness of these changes,” Central City CU CEO and CUNA board member Pat Wesenberg said in testimony delivered before a Monday House Financial Services financial institutions and consumer credit subcommittee field hearing.

Dade County FCU, Doral, Fla., won a reduced verdict in the amount of $406,200 against its insurance company to fulfill a performance bond claim it made after an employee altered more than 500 delinquent credit card accounts to make them appear current.

The Michigan State Senate Banking and Financial Institutions Committee hosted a hearing Thursday on the debit interchange fee provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Representatives from the Michigan credit union and banking industries testified on the new regulation.

The Senate Banking Committee has not announced a date for National Credit Union Administration board nominee Carla León-Decker’s confirmation hearing, but that hearing could take place before Thanksgiving, CUNA Senior Vice President of Legislative Affairs Ryan Donovan said.

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