WASHINGTON – The federal regulator for Fannie Mae and Freddie Mac on Tuesday said he will not allow the companies to reduce loan balances of troubled borrowers, saying there would be no clear-cut financial benefit and that such a move could cause some homeowners to intentionally default in hopes of getting taxpayer aid.

SAN DIEGO – A purported holder of a patent on mobile and ATM deposits filed suit against San Diego County CU on Monday, claiming the credit union’s use of the technology is infringing on its patents.

LAKELAND, Fla. – MidFlorida CU, which has been growing its branch network on the Gulf Coast, has agreed to acquire Indian River CU, a troubled $55 million credit union on Florida’s other coast.

LOS ANGELES -- Two men were each sentenced to three years in prison for withdrawing tens of thousands of dollars from ATMs with credit union and bank credit card information that was stolen from craft-store retail chain Michaels Stores in 2011.

WASHINGTON – Republican Rep. Steve LaTourette, who as a little-known second-term member of Congress co-sponsored and led to passage the landmark credit union bill HR 1151, the 1998 Credit Union Membership Access Act, is retiring from Congress after nine terms.

CORVALLIS, Ore. – OSU Federal Credit Union here said it has distributed 46 computer stations over the last two months to non-profits within its field of membership, including the Salem Boys and Girls Club, Marion and Polk County Law Enforcement for Youth, Casa Latinos, and more.

CHARLOTTESVILLE, Va. – The Treasury Dept. disposed of its entire investment in 10 of the 12 banks that were selected for the fourth TARP auction, according to the auction results released July 27.

PORTLAND, Ore. – Advantis Credit Union here is reporting more than 66,000 public votes were cast via its Facebook page to help determine recipients of its GROW Community Fund.

BOSTON – Credit unions here have raised $200,000 for Boston Children’s Hospital as part of the Credit Union Kids at Heart program.

SPRINGFIELD, Mo. – The $76-million CU Community Credit Union said it will absorb via merger Southwest Missouri Credit Union, which has 3,700 members and assets of $11 million.

RANCHO CUCAMONGA, Calif. – CO-OP Shared Branching reported that during the first six months following its Jan. 1 merger with FSCC it has added 55 credit unions to its client roster.

CHARLOTTESVILLE, Va. – Credit unions “clearly outshine” banks when it comes to credit card rates, according to SNL Financial.

WASHINGTON – The Independent Community Bankers of America (ICBA) on Monday said it now has more than 13,000 signatures on a petition opposed to expanded member business lending for credit unions, which the association referred to in a released statement as “tax-exempt credit unions’ power grab legislation.”

McLEAN, Va. – Credit card revenue margins have dipped at some major issuers in recent months as executives have cited intense competition for the most desirable customers and ongoing pressure from a sea change in regulation.

NORWALK, Conn.-Credit unions and other entities will have to disclose more about the risks they may face in meeting their financial obligations and in dealing with changes in interest rates under a proposal issued by the Financial Accounting Standards Board.

CUNA Mutual Group said it has made $1.25 million of non-member deposits in three California community development credit unions to help stimulate development in their underserved areas under a state program.

A federal judge recently directed NCUA to provide thousands of pages of documents related to the 2010 failure of St. Paul Croatian FCU, the largest fraud in credit union history, to the biggest clamant in the liquidation.

Credit union CEO total compensation, including salary and bonuses, increased an average of 5.93% over the past 12 months, the highest since 2008, according to the 2012 CUES Executive Compensation Survey.

NCUA Reports FewerTroubled CUs At Mid-Year

The ongoing and prolonged drought across much of the Midwestern U.S. has credit unions keeping a wary eye on potential risks that may develop.