WASHINGTON - Three days after finally introducing the new credit union regulatory relief bill, its chief congressional sponsor, Rep. Paul Kanjorski of Pennsylvania, underwent triple heart bypass surgery, halting further progress on the bill until at least next month.

WASHINGTON - CUNA reported last week it contributed $200,000 to members of Congress last month, almost half of it to key players who will influence debate over the newly introduced CU Regulatory Improvements Act, better known as CURIA.

EL SEGUNDO, CALIF. - The board of Continental FCU again rejected an acquisition offer from the much-larger Wings Financial FCU, setting the stage for a protracted battle over credit union's first hostile takeover fight.

ALBANY, N.Y. - Leaders among the community development credit union movement joined other community development financial institution representatives at the state Capitol to press for creation of a state CDFI fund.

ATLANTA - A large proportion of equity line of credit holders has not used their line in the past year, according to a recent research study by Synergistics Research Corp.

PALM BEACH GARDENS, FLA. - If nothing else, Wings Financial's decision to take its proposal to the membership of Continental FCU puts the emphasis where it belongs: the members.

It's Spring Cleaning time, and Credit Union Journal asked a variety of experts what cobwebs credit unions should be sweeping away. From moldy policies that need some serious sprucing up to literally cleaning up the branch, here's a look at what these experts suggest credit unions need to be cleaning out in order to clean up.

PERTH, AUSTRALIA - How's this for a reminder about how big a bite credit card spending takes from your budget-a credit card that looks like a chocolate bar with a bite taken out of it?

CALABASAS, CALIF. - On the heels of being acquired by financial software giant Intuit, Digital Insight has released two products designed to consolidate a member's personal or business data on a credit union's website.

FORT MILL, S.C. - The best way to grow: don't focus on growth.

WASHINGTON - CUNA and NAFCU continued their efforts to tamp down a potential spreading of unfriendly merger solicitations among CUs, urging NCUA to write guidelines or rules, lest the internecine battle between Wings Financial FCU and Continental FCU attract the attention of Congress.

CUNA Mutual Group is comprised of multiple companies, including both insurance and noninsurance companies, diverse product lines that serve both credit unions and their members, domestic and international operations, and a number of strategic partnerships we are engaged in with credit unions, corporate credit unions, and credit union service organizations (CUSOs).

ATLANTA - A large proportion of equity line of credit holders has not used their line in the past year, according to a recent research study by Synergistics Research Corp.

WASHINGTON - Authorities are investigating a new computer virus, traced to Russia, that has stolen PINs, passwords and identifying information and other personal data from thousands of credit union and bank accounts.

HOLLYWOOD, FLA. - Investment Services Group, LLC, (ISG), the wholly-owned subsidiary of Vantage Credit Union, Bridgeton, Missouri, will soon become a broker/dealer, Frank Gluck, ISG's president/CEO told the Credit Union Journal.

PERTH, AUSTRALIA - How's this for a reminder about how big a bite credit card spending takes from your budget-a credit card that looks like a chocolate bar with a bite taken out of it?

Hearings

In the first part of this series we noted that credit unions have become an industry in search of answers and not getting them.

WATERLOO, IOWA - As legislative leaders contemplate laws that would cap the interest on payday lending, Veridian Credit Union here is taking action now.

EL SEGUNDO, CALIF. - The proposed merger bid by Wings Financial FCU to Continental FCU raises numerous questions. Here's how CFCU CEO Thomas Glatt, Sr., responded to questions from the CU Journal: