Since the Troubled Asset Relief Program was authorized, the U.S. Treasury Department has initiated a number of efforts
under the program, disbursing $385 billion for loans and equity investments, according to testimony by the Government Accountability
Loan modifications and refinancings by Fannie Mae and Freddie Mac increased significantly during the first quarter as the
volume of permanent modifications under the Federal Housing Finance Agency’s Home Affordable Modification Program tripled,
and refinancings grew steadily.
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.
CUNA’s Strategic Communications Department teamed up with The Wall Street Journal this week on an infographic illustrating the differences between credit unions and banks. The graphic ran in print today, on International Credit Union Day.
The NCUA’s Tuesday announcement that it will repay the U.S. Treasury in full is a good sign for credit unions, said CUNA Chief Policy Officer Bill Hampel. The agency will repay the $1 billion outstanding balance before Oct. 31.