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Ringleader sentenced to 18 years in St. Paul Croatian FCU collapse

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.... More

Retailers file response in interchange lawsuit vs. Fed

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.... More

Car dealer, Albany area CUs tout business loans

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.... More

Filene: CUs' MBLs weathered economy better than banks'

Allowing credit unions to expand their commercial loan growth not only could help the economy, but also would improve the resiliency of their loan portfolios in times of economic stress, according to a recent Filene Research Institute study. Policymakers should consider relaxing regulatory caps concerning credit union business lending or consider alternative routes to promote that lending, the study concluded.... More

N.C., S.C. leagues start spring Hill-hike season

Member business lending legislation was again the focus last week, as credit union leaders from North Carolina and South Carolina hiked Capitol Hill to discuss key issues and other credit union priorities with their respective elected officials.... More

MBL cap increase encourages competition, ACI president says

Overall, America needs public policies that encourage competition, and Congress needs to "remove market entry barriers that suppress small business lending," American Consumer Institute Center for Citizen Research President Steve Pociask said in a recent blog post on the group's website, More

NCUA prohibits one from CU work

Cynthia Harvey, a former employee of Allied Tube Employees FCU, Harvey, Ill., has been prohibited from future work at any federally insured financial institution by the National Credit Union Administration following her conviction on federal credit union fraud.... More

CUs have best reputation of any sector--survey

Credit unions were rated No. 1 in a new survey in which 5,000 consumers were asked to rate the reputation of 34 business sectors.... More

Duchess of Cornwall makes first visit to CU

Camilla, the Duchess of Cornwall--also known as the Duchess of Rothesay in Scotland--paid a visit Wednesday to Edinburgh-based Capital CU and proclaimed a fascination with credit unions.... More

Durbin files amicus brief in retailers' suit vs. Fed

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.... More