Sen. Charles Schumer (D-NY) told Bloomberg News that he wants to spur economic growth and hiring by raising the member business lending cap for credit unions. ... More

CUNA encouraged Sen. Chris Dodd (D-Conn.) to consider adding language that gives his proposed Bureau of Consumer Financial Protection "the authority to delegate examination authority for large credit unions to the prudential regulator" rather than limiting the National Credit Union Administration's authority to credit unions with under $10 billion in assets.... More

Sen. Charles Schumer, a supporter of increasing the credit union members business lending cap, said this week he'd like to see a cap lift included in a package of job-stimulus proposals the Senate is currently considering.... More

Interviewed on a major news-talk Los Angeles radio station yesterday, CUNA President/CEO Dan Mica emphasized credit unions could make $10 billion in loans to help small businesses and create 108,000 new jobs if the U.S. Congress passes legislation raising the current statutory cap. And he said an upcoming jobs package would be a likely vehicle to advance the bill.... More

BizKid$, the youth-focused and credit union-funded financial education show, is airing on 99% of PBS stations.... More

The National Credit Union Administration has proposed a significant rewrite of portions of Sections 701, 708a, and 708b of its rules to address the fiduciary duties of federal credit union directors, credit union to bank mergers, and charter and insurance conversions.... More

Educators CU has decided to divest its auto dealership, Educators Auto and Lease, and is in the final stages of a purchase agreement.... More

An amendment to Vermont Senate bill S.138 has brought the controversy over merchant plastic card fees to the statehouse, and it would be a "disaster for credit unions," said the Association of Vermont Credit Unions. ... More

Sunday's H&FF Radio program delves into consumer security breaches, buying food locally, teaching your kids the psychology of money, and resources for military personnel and their families.... More

The National Federation of Community Development Credit Unions is looking for more Alabama and Florida credit unions to take part in a Treasury capital program. ... More