WASHINGTON (3/14/14, UPDATED 9:59 a.m. ET)--Voting 55-0, the House Financial Services Committee passed a bill to broaden credit unions' ability to apply for Federal Home Loan Bank membership. The bill was one of three passed over two days, all strongly supported by CUNA.
National Credit Union Administration board member nominee J. Mark McWatters said at his confirmation hearing Thursday that a risk-based capital approach "makes sense" for credit unions, but warned the "devil is in the details" of any proposal.
Credit unions and their members continue to contact federal lawmakers about preserving the credit union tax status--and this time it was to thank House Ways and Means Committee members for not touching credit unions in the committee's draft tax code reforms.
Rep. Ed Royce (R-Calif.), as expected, introduced a credit union relief bill Thursday that would exempt loans for one- to four-unit non-occupied dwellings from the member business lending cap.
The Homeowner Flood Insurance Affordability Act (H.R. 3370) can now move on to President Barack Obama's desk to be signed into law after the Senate approved the bill on Thursday.
For new-car buyers conforming to the growing trend in auto sales, it might be six years--or 72 months of car payments--before they own their vehicles outright.
A team of security specialists. A $1.6 million malware detection tool. Compliance with payment card industry standards. According to a report in Thursday's Bloomberg Businessweek
, Target didn't react to the red flags that went up--resulting in the compromise of more than 40 million credit and debit card numbers and 70 million addresses, phone numbers and other personally identifiable information.
You won't find credit unions listed on any stock exchange. That was among the ways that John H. Murga, president/CEO of $109 million-asset Hidden River CU, Pottsville, Pa., distinguished credit unions from banks in an op-ed piece that appeared in the March 12 issue of the Republican Herald
An improvement in foreclosure numbers unseen in seven years was reported this week by RealtyTrac in its U.S. Foreclosure Market Report for February.