Fed Scheduled To Reveal Swipe Fee Rule This Week

BILLINGS. Mont.-One small credit union CEO is asking why a large number of CUs have not stepped up and shared with Congress exactly what they are netting on their average debit transaction.

ALEXANDRIA, Va.-Dozens of credit unions are committing to participating in a proposal allowing them to prepay NCUA assessments for the corporate crisis, with most of them calling for an increase in the program from the $300 million proposed to at least $1 billion.

ALEXANDRIA, Va.-In keeping to its nine-month-old projections of the cost of the corporate credit union stabilization program at $7 billion to $9 billion, at least one person is wondering if the agency is vastly underestimating the costs for political reasons.

PALO ALTO, Calif.-To paraphrase Mark Twain, reports of First Tech Federal Credit Union's computer system "crash" have been greatly exaggerated, according to Benson Porter.

"I am writing in response to your letter dated June 15, 2011, which makes the very unfortunate, and erroneous, inference that we requested that the agency 'conceal' legal or regulatory violations on the part of credit unions ..."

ALEXANDRIA, Va.-A call by NAFCU for NCUA to be more transparent about its fledgling consumer protection office has led to a "He said, she said" exchange between NAFCU President Fred Becker and NCUA Chairman Debbie Matz.

In a June 16 letter, NCUA Chairman Debbie Matz denied there has been any lack of transparency, writing, "In a series of communications since OCP was created in 2010, NCUA has featured articles addressing why the NCUA Board created OCP, its mission, and specific responsibilities being transferred to OCP.

NEW ORLEANS-The controversial Kardashian Kard may have only been on the market for a few short weeks, but its 15 minutes of fame are far from over.

SAN ANTONIO-Credit unions are being offered some advice and strategies for dealing with the next wave of regulations.

WALL STREET-In the first two of what promises to be several legal actions seeking compensation for the corporate credit union crisis, NCUA sued two of the biggest Wall Street banks last week seeking to recover losses from the now-toxic mortgage-backed securities they sold to four of the five failed corporates.

MOUNTAIN VIEW, Calif.-Intuit Inc. says momentum in mobile payments sparked by Google Inc. and the carrier venture Isis has boosted its own mobile banking business.

PASADENA, Calif.-Ralph Bicker has never had a problem helping out, and in fact calls himself a "fiend for volunteering."

SPRINGFIELD, Va.-People count on their utility companies, and utility company employees need to be able to count on their credit union.

HOUSTON, Tex.-Curtis Collins is set to receive this year's Volunteer of the Year (CUs with more than $150 million in assets) award from NAFCU, and the 70-year-old has a fairly good idea why he's being honored: "Because I'm old," quipped Collins.

BELLEVUE, Neb.-Since Gail DeBoer became head of SAC Federal Credit Union in 2007, it has become the largest CU in Nebraska, growing to $505 million from $306 million, while also becoming the No. 1 indirect auto lender in the Cornhusker State.

CHARLESTON, W.Va.-Dan McGowan has helped turn around the fortunes of Pioneer West Virginia FCU, and said the credit union owes much of its success to making timely decisions with fresh data.

PENSACOLA, Fla.-The numbers say a lot about David Tuyo's achievements at Pen Air FCU, helping the credit union go from six basis points ROA when he arrived 26 months ago to 1% this year.

ALEXANDRIA, Va.-NCUA reported that for the eighth straight month, the NCUSIF equity ratio held stable at 1.29% as of May 31. The NCUSIF ending reserve balance stood at $1.2 billion, which included an increase of $4.3 million in reserves for May.

NEW YORK-A state appellate court has rejected the shield of the federal tax exemption for federally chartered credit unions and upheld a lower court ruling that Hudson Valley FCU and all of the state's federally chartered credit unions are liable for millions of dollars in New York State mortgage recording taxes.