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CUs 'Critical' to Business Growth

February 23, 2010
U.S. Small Business Administrator Karen Mills on Tuesday told GAC attendees that credit unions are "critical" to growing businesses and creating new jobs, adding that her "impression" is "credit unions really know what is going on in their communities." Mills also commended credit unions for their shared goal of supporting... READ MORE

Good Chance to Lift MBL Cap

February 23, 2010
Businesses’ need for capital will drive removal of restrictions. It would be a big mistake to pass legislation establishing a separate consumer regulatory agency, Rep. Ed Royce (R-Calif.) said Tuesday. In fact, he believes doing so could create conditions for another economic regulatory disaster. “We go down a dangerous path... READ MORE

What Will You Discuss With Legislators on the Hill?

February 23, 2010
Interchange income—it’s an important source of fee income for us. We also want to talk about business lending and getting the 12.25% cap lifted. There’s also the issue of overdraft protection and making sure both CUs and consumers have their issues addressed. John Lightle Director Via CU Marion, Ind.  ... READ MORE

Thanks, Dan: CUNA Board Passes Resolution Honoring Mica

February 23, 2010
CUNA Board Chairman Kris Mecham (right) lauded Mica for his "passion, zeal, and reason." “All endings are also beginnings,” author Mitch Albom writes. “We just don’t know it at the time.” So it goes as Dan Mica ends his tenure as CUNA president and starts a new, albeit undefined, journey.... READ MORE

'Pat Yourselves on the Shoulder: You Were Part of the Recovery'

February 23, 2010
Kanjorski: It's time to take out the MBL cap. Congressman Paul Kanjorski, credit union champion and friend, entered the stage to a standing ovation from Tuesday’s General Session audience. He reminded attendees that a year ago the future looked bleak, but “pat yourselves on the shoulder,” he said. “You were... READ MORE

Hyland: Focus on the future

February 23, 2010
Hyland: Don't wait to seize the future. Entering the stage to the strains of R.E.M.’s “It’s the End of the World as We Know it,” NCUA Vice Chair Gigi Hyland told General Session attendees to seize the future—pronto. “It’s the end of the world as we know it and it’s... READ MORE

Marshal Your Political Firepower

February 23, 2010
Clyburn: Use your clout to resolve the financial crisis. Rep. James Clyburn urged credit unions to marshal their political firepower to help resolve the financial crisis. He said not all pending proposals to cure the current recession are in credit unions’ best interests. Clyburn made the observation during Tuesday morning’s... READ MORE

Compliance Burden Keeps Growing

February 23, 2010
Credit union boards don’t have to know all the compliance answers. But boards must be able to ask key questions to ensure their credit union is “on track” complying with laws and regulations, said Kathy Thompson, CUNA’s senior vice president/associate general counsel for regulatory compliance, during a Tuesday panel discussion... READ MORE

Corporate CUs: What now?

February 23, 2010
The time for finger-pointing about corporate credit union woes is over. The time to move forward has begun. CUNA’s Corporate Credit Union Task Force aims to help the credit union movement do just that. It released a report, covered during a breakout session Tuesday, that offers a roadmap for the... READ MORE

Greenspan Foresees an 'Unbalanced' Recovery

February 23, 2010
"We must break the partisan gridlock," former Fed Chairman Alan Greenspan said Tuesday. At left is GAC emcee Paul Barry. “The recession we’re emerging from was the worst global financial crisis ever due, in part, to the way the credit markets froze almost overnight,” former Federal Reserve Board Chairman Alan Greenspan... READ MORE

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