Reid Files Cloture on Bankers’ TAG Bill as Behind-the-Scenes MBL Advocacy Continues

The Senate will vote early next week on S. 3637, a bill that has been seen as a possible companion for MBL legislation that would extend TAG coverage for banks. “The status of our MBL bill on Capitol Hill remains very fluid,” NWCUA President and CEO Troy Stang said. “The situation is evolving hourly.”

Vermont Credit Union Fighting for Freedom of Speech in ‘Bank, Banker, Banking’ Issue

A $600 million Vermont credit union has become a champion for the industry and a pariah among banks for not backing away from a national issue affecting all credit unions and their ability to communicate clearly the scope of their activities.

MBL Update: Senate Vote Remains on the Horizon as Advocacy Efforts Continue

Credit unions are continuing their strong grassroots push in support of S. 2231, but it is unlikely the measure will see a vote this week. Independent and community bankers are currently on the Hill working in opposition to the measure.

Compliance Question of the Week

A member died some months ago. None of his accounts, including the safe deposit box, shows any beneficiary or joint owners. Nobody has come in claiming to be the personal representative. What should we do with the safe deposit box?

Compliance Question of the Week

We have a deceased member who had a safe deposit box. The executor has proper letters of testamentary, but we now have a beneficiary claiming that the property in the box belongs to them. What should we do?