PHILADELPHIA - After unanimously passing a bill in April that placed tough restrictions on subprime loans, the Pennsylvania state legislature did an about-face and passed a bill overturning Philadelphia's anti-predatory lending regulation. Specifically, the new law-H.B. 1703-pertains to loans with rates 4.5 percentage points above Treasury securities of comparable maturity....

WASHINGTON - The National Association of Realtors and its members are still pushing for additional congressional hearings to be held on a controversial rule proposed by the Federal Reserve and U.S. Treasury that would allow banks to offer real estate brokerage services. NAR and individual realtors began lobbying Congress in...

FARMERS BRANCH, Texas - First it was called the Texas Credit Union League, then it wasn't, then it was again. What the Texas Credit Union League will be called after its next name change is approved is anyone's guess. The league, at the directive of the board of directors, is...

WASHINGTON-In a letters to three separate lawmakers last week, NAFCU extolled the virtues of H.R. 1590, the Flexible Savings Accounts (FSA) Rollover bill. NAFCU points out that the bill not only helps consumers but also employers and financial institutions. Many employees set money aside in FSAs for medical emergencies, but,...

"It would be great if we were able to get rid of predatory lenders, but we won't be able to get rid of subprime lenders because there's nowhere else for people who have had an unfortunate financial experience to go for loans." -Colleen Kelly, state governmental affairs director, CUNA "I'm...

MINEOLA, N.Y. - ezTaxReturn's first year partnering with CUs to deliver online tax preparation went well, according to the company, but it wants to add even more value for next year's rush. Credit unions who joined ezTaxReturn's ezAlliance Partnership Program receive free branded e-file Web sites and free marketing and...

State Credit Union Foundation and Development Network , Madison, Wis., has appointed the following directors to its executive committee: Steve Elam, North Carolina Credit Union Foundation; RoxAnne Kruger Monahan, Washington Credit Union Foundation; and Jan Dietzenbach, Iowa Credit Union Foundation. PSECU, Parma, Ohio, has appointed the following officers to its...

BOULDER, Colo. - U of C Federal Credit Union has hosted a delegation from Uzbekistan to help them better understand the credit union movement. Located in Central Asia, the Republic of Uzbekistan declared independence from the Soviet Union in 1991. The group is visiting select credit unions in the United...