* ALEXANDRIA, Va. (7/29/10)--The National Credit Union Administration (NCUA) has posted the third of three explanatory tracks
to help credit unions better understand the history and prevailing situation involving the nation’s corporate credit union system. Track 3 outlines steps NCUA has taken to help stabilize the corporate credit union system. A DVD with all three tracks will soon be sent for free to all federally insured credit unions. The presentations provide an overview of the corporate credit union crisis. Track 1 covers the history and services of corporate credit unions. Track 2 describes types of corporate credit union investments; how these investments were affected by financial market declines; and how problems with the investments affected corporates and threatened the entire credit union system ... * WASHINGTON (7/29/10)--The Community Development Financial Institutions (CDFI) Fund is seeking comments about the CDFI/Community Development Entities (CDE) Project Profile Web Form. The voluntary collection of narrative descriptions of projects financed by CDFI Fund provides more narrative information on impact and best practices associated with all of the CDFI Fund’s programs. The purpose is to more fully describe and record the innovative approaches CDFIs and community development entities use in revitalizing communities and serving families. The form may be found on the CDFI Fund’s website.
The CDFI Fund proposes adding four more check boxes to reflect new programs it administers, and rewording or adding clarifying language to the narrative questions for easier comprehension. Comments are due by Sept. 27 ... * WASHINGTON (7/29/10)--Comments filed by more than 300 individuals making suggestions for the futures of Fannie Mae and Freddie Mac have a common theme, according to American Banker
(July 28). The commonality is that the individuals who authored the letters cannot agree on how to handle the enterprises, the publication added. Some suggest eliminating Fannie and Freddie, nationalizing them, or creating a mortgage insurance fund to guarantee mortgage-backed securities. Others say the government-sponsored enterprises (GSEs) should return to the way they were before the economic crisis, or the government should create a covered bond market so banks can issue mortgage-backed debt to finance loans. The Obama administration is planning a conference Aug. 17 with industry groups, academics and consumer representatives to discuss a plan for the GSEs. The administration has said it wants to submit a plan to Congress by January. Fannie and Freddie were taken into conservatorship in September 2008 ... * WASHINGTON (7/29/10)--The Government Accountability Office (GAO) has launched a mobile version of its website to allow users to access the site on Blackberrys, iPhones, Droids and other devices. The site’s content is organized under three tabs. The first allows users to browse the latest GAO reports and testimonies; the second provides users with the agency’s legal decisions and opinions; and the third, entitled “In the Spotlight,” highlights especially timely GAO work. Website users also can search to quickly find specific GAO products. The mobile version of GAO’s website is automatically opened by visiting the same URL as GAO’s regular website, www.gao.gov
, via a mobile device ...