In October, a new Maryland state law requiring credit unions and banks to report suspected financial exploitation of Marylanders age 65 and older, or face a penalty, will take effect.

A final version of new Troubled Debt Restructuring rules and Regulatory Flexibility program changes will be the lead items on the agenda when the National Credit Union Administration holds its next open board meeting at 10 a.m. ET on May 24.

Federal Reserve policymakers were concerned about risks to the economic recovery, including the U.S. budget policy and the debt crisis in Europe, with some suggesting that additional easing might be necessary if the economy lost momentum, according to minutes released Wednesday of the Federal Open Market Committee's April 24-25 meeting.

An Ohio church suing the National Credit Union Administration (NCUA) over its losses from the collapse of St. Paul Croatian FCU has asked a federal court for more time to respond to NCUA's motion last week that asked the court to reconsider its order allowing discovery on the issue of "bad faith" in the lawsuit, which involves a deposit insurance claim.

Recent credit union member growth, resulting in part from last year's "Bank Transfer Day," is an indication that Americans want choices besides banks -- and the credit union tax exemption helps ensure that they will find affordable alternatives, CUNA President/CEO Bill Cheney said in a letter to House Ways and Means Oversight Subcommittee Chairman Charles Boustany (R-La.).

During the past year, consumers' knowledge about credit scores improved significantly, with more awareness about who collects information on which most scores are based, the importance of checking this information, what good scores are, how to raise them and what service providers use these scores, according to a new study.

During a hearing convened by the Internal Revenue Service Tuesday, the World Council of Credit Unions urged the agency to consider changes to its proposed Foreign Account Tax Compliance Act regulations that would reduce undue regulatory burdens on credit unions in other countries.

Raleigh, N.C.-based Coastal FCU's newest technology--remote video teller kiosks--was in the national spotlight Tuesday in an article in The Wall Street Journal about the latest "gizmos" that enable financial institutions to let their members and customers do-it-themselves.

The number of suspicious activity reports filed by institutions that claimed the National Credit Union Administration as their primary regulator increased by 6% in 2011, continuing a trend that has seen SARs filed by credit unions increase every year since 1998, the Financial Crimes Enforcement Network reported.

Legislation that would provide a short-term extension of the National Flood Insurance Program is expected to be considered by the U.S. House this week, but the NFIP would likely only be extended for a few weeks, CUNA Senior Vice President of Legislative Affairs Ryan Donovan said.

Hearings on the Financial Stability Oversight Council's authority, regulator-led legal settlements, and the Dodd-Frank Wall Street Reform Act highlight the schedules of the House Financial Services Committee and related subcommittees this week.

The alleged ringleader in the loan fraud scheme that contributed to the collapse of Eastlake, Ohio-based St. Paul Croatian FCU--one of the largest credit union failures in U.S. history--was sentenced Friday to 18 years in prison.

A coalition of merchants who sued the Federal Reserve Board over the Fed's debit fee interchange rule mandated by the Dodd-Frank Act has filed its response to the Fed's motion to dismiss the case in a federal court in Washington, D.C.

Some Albany, N.Y., area credit unions are aggressively pursuing small business lending, which has benefited small businesses such as a local hotel and an auto dealership.

CUNA will participate Monday in a call with the Clearing House Association and others to review the amicus brief filed Thursday by U.S. Rep. Richard Durbin (D-Ill.), the primary author of the debit interchange fee proposal in the Dodd-Frank Act, in support of retailers' lawsuit against the Federal Reserve's rule that implements the interchange fee cap.

Credit card issuers who make their pricing unclear and are more aggressive in their marketing ended up eating more losses during the recession, according to a new study. But issuers with "best practices"--which tended to be credit unions and community banks--had fewer losses, the report said.

Total U.S. auto lease balances rose 9% in March over a year ago, more than twice the growth rate of auto loan balances, which grew 4.2% during the same period, said a study conducted by Equifax and Moody's Analytics' CreditForecast.com.

Regulatory burdens, examination concerns and how the National Credit Union Administration plans to address some current credit union priorities were addressed during the NCUA's second listening session held Wednesday.

The National Credit Union Administration explains its new interest rate risk regulations and advises credit unions on how to prepare for the new rules before they become effective this fall, in a new letter to credit unions (12-CU-05).

The burden of excessive financial regulations has resulted in more than $2 million in additional costs for his credit union, and, in some cases, reduced service to members, Terry West, president/CEO of Vystar CU, Jacksonville, Fla., said during a Wednesday House subcommittee on financial institutions and consumer credit hearing on the impact of regulations on small financial institutions.

Some Springfield, Mo.-based credit unions are bumping up against their member business lending limit--or are close to it, according to an article Monday in the Springfield Business Journal. A local business also told the newspaper about the difficulty in getting banks' backing of a loan for expansion.

Credit unions gained half a million new members in March, bringing total membership to 95.2 million, according to CUNA's Credit Union Monthly Estimates. The growth spurt indicates the momentum credit unions gained leading up to Bank Transfer Day activities is alive and well five months after that event, and credit unions should continue to make the most of that momentum, said CUNA.

A Senate bill that would prevent federal student loan interest rates from doubling from 3.4% to 6.8% this summer failed to collect the votes needed to ensure debate by the full Senate on Tuesday, but could still be brought up for Senate approval in the future.