Supreme Court Nominee Was CU Advocate
WASHINGTON-John Roberts, the appeals court judge nominated Wednesday to the Supreme Court by President Bush will forever hold a place in credit union history as one of the chief defenders of NCUA's multiple groups policy before the Supreme Court in the landmark AT&T Family FCU case.
Roberts, then an attorney for Washington-based Hogan & Hartson, argued the credit union case on behalf of CUNA and NAFCU who were defending NCUA's policy.
Roberts, who had clerked for then associate Justice William Rehnquist and had argued numerous cases before the High Court, was hired for his knowledge of the different justices, according to Eric Richard, general counsel for CUNA, who emphasized that Roberts argued the credit union case as if he were a long-time advocate.
"He was a real pro," Richard told The Credit Union Journal. NCUA General Counsel Robert Fenner said Roberts argued along side of then Advocate General Seth Waxman, who made the main credit union argument on behalf of the U.S. Justice Department. "He was a very impressive guy; a brilliant lawyer, and a very decent man," said Fenner.
Congress Eyes Reforms On Credit Cards Breach
WASHINGTON-A group of influential lawmakers, grappling with recent incidents of broad credit card data theft, were expected to introduce legislation Thursday requiring credit card companies to notify consumers when their personal information may be at risk.
The bill is aimed at recent incidents, especially the one at CardSystems Solutions when company officials waited for months before they notified CUs and banks that data on as many as 40 million credit card accounts it processed had been stolen. CUs are still working to resolve the issue with dozens of institutions recalling cards and issuing new ones at the costs of millions of dollars.
The bill is being sponsored by Rep. Deborah Pryce (R-OH), the chairman of the House Financial Services International Monetary Police Subcommittee, as well as Steve LaTourette (R-OH), Michael Castle (R-DE), Darlene Hooley (D-OR) and Dennis Moore (D-KN).
Community CU Hearing Set
DALLAS-NCUA is expected to tell a federal court that Community CU has no basis for a preliminary injunction to block the agency's ruling invalidating its vote last month to convert to a mutual savings bank.
The U.S. District Court for the Eastern District Court has given NCUA until Aug. 2 to respond to the $1.4-billion credit union suit and has set a hearing on the suit for Aug. 17.
NCUA will be represented by the U.S. Department of Justice in the case.
John Deere To Become Veridian
WATERLOO, Iowa-John Deere Community CU, the state's largest credit union, has agreed to change its name at the behest of the farm equipment manufacturer to downplay any connections with its chief corporate sponsor.
The billion-dollar credit union, one of four that bear the John Deere moniker, has asked members to approve the new name Veridian CU, a combination of the Latin "veritas," or truth, and "verdant," meaning green and growing. Credit union officials hope the new name will help celebrate the 70-year-old institution's rich heritage of a growing, solid financial institution. If approved by members at an Aug. 21 meeting, the new name will take effect Jan. 1.
Earlier this year, Deere & Co., asked three of the four CUs founded to serve its employees, Deere Harvester CU, in East Moline, Ill., and Deere Community FCU, in Ottumwa, Iowa, to change their names so as not to imply any formal affiliation with the company.
Deere Harvester CU is also changing its name to DHCU. Deere & Company CU, in Moline, Ill., will be allowed to keep the Deere name because it serves only company employees.
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