Ed Roberts

The FDIC told a federal court here last week it should allow NCUA to extend the nominal statute of limitations on securities claims against several Wall Street banks that sold mortgage-backed securities to five failed corporate credit unions because the 1989 S&L bailout law allows for the extension.

Baxter Credit Union has become the first credit union to go live with a proposed credit union standard for the integration of CU data across diverse channels, a specification being called CU Financial Exchange, or CUFX.

A federal court has ordered Comcast to divulge the identities of two Comcast e-mail users in its bid to discover the perpetrators of an online phishing scam targeting AllSouth FCU members.

The National Federation of Community Development CUs kicked off its new technology initiative this morning with a $250,000 grant from Citigroup to study the feasibility of its own shared branching network.

A well-known patent litigant who has successfully extracted tens of millions of dollars in Check 21 license fees from the biggest banks filed a new slew of suits against Texas credit unions and banks last week over rights to the popular remote deposit capture technology that allows consumers to deposit checks using their smartphones.

Credit unions added 800,000 new members in the first quarter of the year, the best quarter ever for membership growth, the National Credit Union Administration said on Thursday.

Sb1 Federal Credit Union in Philadelphia has hired Robert Werner, a former chief operating officer of Two River Community Bank, as its president and CEO.

In an unusual move, AllSouth FCU, whose members have been solicited for their account numbers over the past few weeks, has filed a civil suit against the unknown perpetrators in an attempt to stem the expanding phishing attacks.

The National Credit Union Administration has certified last month's member vote at HarborOne Credit Union in Brockton, Mass., to convert to a mutual savings bank.

Hundreds of credit unions have quietly qualified for relief from regulatory restrictions on member business loans and raising supplementary capital through NCUA's low income program, even as Congress continues to hold up decade-long requests for regulatory relief.

Credit union executives called on Congress last week to get the Consumer Financial Protection Agency to exercise existing powers to exempt credit unions from a growing list of new regulations being issued by the fledgling agency, or at least allow NCUA to override some of the new CFPB rules.

WICHITA, Kan. — A federal judge here yesterday dismissed the majority of $590 million of securities claims brought by NCUA against Credit Suisse Securities in the 2009 collapses of U.S. Central FCU and WesCorp, dealing the credit union regulator another defeat in its efforts to recoup losses for the biggest credit union failures ever.

Credit unions are calling foul on proposed federal guidelines that would, among other requirements, force credit unions to put proper consumer disclosures on all social media messages, cutting deeply into the allowable 140-character limit on Twitter, for example.

Municipal Employees Credit Union in Baltimore has agreed to buy Advance Bank.

Credit unions are worried a proposal by the Financial Accounting Standards Board (FASB) to use an expected loss method to measure loan losses will require them to increase loan loss reserves and are calling on the FASB to withdraw the proposal.

Patelco Credit Union, which suffered website outages in February after two hacker attacks, said it has hired Kevin Landel as its new chief information officer.

Ten debit networks agreed last week to adopt a common U.S. debit application identifier and work with Discover Financial Services to license the D-Payment Application Specification, known as D-PAS, as the foundation for a common U.S. debit chip payment platform.

An increasing reliance on fees and other revenues from its member business loan portfolio sent Telesis Community CU spiraling toward insolvency as a growing number of the one-time $615-million credit union's MBLs went sour, according to a report issued last week by NCUA's Office of Inspector General.

InvesTex Credit Union has agreed to acquire StarTrust Federal Credit Union, the troubled former Enron credit union, in a combination of Houston institutions.

A federal appeals court has scheduled oral arguments for May 8 in a key case that will help determine the success of billions of dollars in claims by NCUA against Wall Street banks for the sale of mortgage-backed securities to the failed corporate CUs.