Sen. Mark Udall's (D-Colo.) Small Business Lending Enhancement Act (S. 968), introduced on Thursday, "would allow credit unions with experience in business lending to continue to lend to their small business members, without increasing the size of government," CUNA President/CEO Bill Cheney said.

A proposed rule that would allow eligible credit unions to engage in interest rate swaps and to purchase interest rate caps was released for public comment by the National Credit Union Administration on Thursday.

National Credit Union Administration board nominee Rick Metsger's direct experience with credit unions, which came through his having served on an Oregon credit union's board, will serve him well if he is ultimately confirmed, CUNA President/CEO Bill Cheney said.

Credit union CEOs are upbeat about economic conditions for their members, but are more downcast about the operating environment for their own institutions, according to the results of Catalyst Corporate FCU's First Quarter 2013 CEO Confidence Survey.

Auto loan loyalty stems from more "high touch" factors, such as good member service, ease of contacting the lender and lender responsiveness, than from quantifiable factors, such as interest rates and down payment requirements, according to a new report from the Filene Research Institute.

While a new derivatives investment proposal was the big ticket item on Thursday's National Credit Union Administration agenda, two other items were also discussed: A final rule making technical adjustments to credit union regulations, and a board briefing on a supplemental interagency proposed rule that covers appraisals for higher-priced mortgage loans.

The Cornerstone Credit Union League has appointed a transitional board of directors. Member credit unions of the Arkansas Credit Union League, the Credit Union Association of Oklahoma and the Texas Credit Union League had voted to consolidate into the Cornerstone league, as of July 1.

Ohio's state budget bill is still being debated in the state's General Assembly, and so far it remains absent any major reforms that would impact credit unions' tax status, said the Ohio Credit Union League. However, "this could change at a moment's notice."

Wrestle your spending into submission and learn a no-excuses approach to landing a job with Home & Family Finance Radio this week.