Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Irish league efforts ease restrictions in CU bill
DUBLIN, Ire. (12/18/12)--Efforts by the Irish League of Credit Unions to ease some of the restrictions in Ireland's new Credit Union Bill 2012 have yielded results, local media say.

Early drafts of the bill would have restricted the length of time people could serve on the board of a credit union. However, that was amended in the legislation after intense lobbying by credit unions, said the Irish Independent (Dec. 15). The measure, passed last week, also no longer includes provisions to ban people related to a person doing voluntary work for a credit union from becoming a credit union director.

A government-appointed commission report in April had recommended that credit unions should collaborate together to benefit from economies of scale and to weather the economy. The European Commission has approved government plans to encourage mass mergers among credit union. About 250 credit unions may merger in the next three years, said the article.

The government also put aside funds to assist troubled credit unions this year and next. The European Union has said that is in line with its state-aid rules.


RSS print
News Now LiveWire
Tech. advances don't dampen consumer #cybersecurity concerns #NewsNow http://t.co/HNn4Hojadv
6 hours ago
.@TheNCUA board unanimously voted today to designate board member Rick Metsger as vice chairman, effective immediately.
6 hours ago
We really want to hear from our readers. Please take the News Now survey: http://t.co/BYiQ5vr5Ob
8 hours ago
Advanced technologies don't quell cybersecurity fears #NewsNow http://t.co/ZJ20bimRvv
8 hours ago
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
9 hours ago