Compliance

ALEXANDRIA, Va.-Credit union executives are worried an accounting proposal by NCUA that would require credit unions deduct "bargain purchase gain" in mergers of troubled credit unions will have the opposite of its desired effect and, instead, discourage such credit union combinations.

WASHINGTON-Republican lawmakers increased their efforts last week to water-down the fledgling Consumer Financial Protection Bureau as they seek to block an expected Obama administration nomination of consumer advocate Elizabeth Warren to head the newly created agency.

A number of industry leaders did not discount the opinion shared by Mike Moebs, CEO and economist of Moebs $ervices, that credit unions will need to meet a higher capital minimum to be considered well-capitalized.

BIRMINGHAM, Ala.-Former NCUA Chairman Dennis Dollar sees little chance capital requirements for credit unions will increase.

ALEXANDRIA, Va.-Credit unions are urging NCUA to delay enactment of its new rule scrapping ratings by Wall Street agencies as a requirement for investments until the agency replaces the traditional ratings benchmark with definitive guidance.

OLYMPIA, Wash. — "Once a member, always a member," has long been an assumption of credit union membership rules. But that's not always the case if that member ends the relationship and moves out of a credit union's field of membership.

WASHINGTON — Credit unions called on Congress last week to water-down the powers of the new Consumer Financial Protection Bureau — even before the new agency has opened its doors.

Imagine a stunned ISO executive standing amid the smoking ruins of a data breach and clutching a six-figure bill for the damages. Visions of such scenes are prompting ISOs to take a keen interest in helping their merchants comply with the Payment Card Industry data-security standards designed to prevent such catastrophes, observers say.

MADISON, Wis.-Thanks to a letter Fred Johnson sent to NCUA, credit unions can now pay for financial literacy training for associate directors or director emeriti.

SACRAMENTO, Calif.-A recent spate of news coverage disclosing million-dollar pay packages at credit unions has prompted state regulators to take a new look at the compensation of credit union managers.