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Interest Rates- US: H15 -0.31 2011-05-12 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.09 2011-05-12 FRB Federal funds effective rate
- US: H15 0.12 2011-05-12 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.20 2011-05-12 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.11 2011-05-12 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
- Trade (FTC)
- Operators of Online "Virtual Worlds" to Pay $3 Million to Settle FTC Charges That They Illegally Collected and Disclosed Children's Personal InformationThe operators of 20 online virtual worlds have agreed to pay $3 million to settle Federal Trade Commission charges that they violated the Children’s Online Privacy Protection Rule by illegally collecting and disclosing personal information from hundreds of thousands of children under age 13 without their parents’ prior consent. […]
- Operators of Online "Virtual Worlds" to Pay $3 Million to Settle FTC Charges That They Illegally Collected and Disclosed Children's Personal Information
- Commerce News
- Federal Register Notice: Commerce Spectrum Management Advisory Committee Change of Meeting LocationThe Commerce Spectrum Management Advisory Committee will meet May 25, 2011, from 9 a.m. to 12 p.m. Please note this change of location: The Committee meeting will now be held in Room 6059, at U.S. Department of Commerce, 1401 Constitution Avenue, NW., Washington, DC. (182 KB PDF file) […]
- Federal Register Notice: Commerce Spectrum Management Advisory Committee Change of Meeting Location
- Small Business News
- Letter dated 5/12/11 - Department of the Interior, Fish and Wildlife ServiceLanding page summary: Endangered and Threatened Wildlife and Plants; Listing and Designation of Critical Habitat for the Chiricahua Leopard Frog; Proposed Rule May 12, 2011 Printer Friendly Version read more […]
- Letter dated 5/12/11 - Department of the Interior, Fish and Wildlife Service
- Monetary Policy
- Cost Estimates
- H.R. 828, Federal Employee Tax Accountability Act of 2011Cost estimate for the bill as ordered reported by the House Committee on Oversight and Government Reform on April 13, 2011 […]
- H.R. 1683, State Flexibility ActCost estimate for the bill as introduced in the House of Representatives on May 3, 2011 […]
- S. 398, Implementation of National Consensus Appliance Agreements Act of 2011Cost estimate for the bill as ordered reported by the Senate Committee on Energy and Natural Resources on April 12, 2011 […]
- H.R. 828, Federal Employee Tax Accountability Act of 2011
- Banking
- Acting Comptroller Testifies on FSOCActing Comptroller of the Currency John Walsh discussed the Financial Stability Oversight Council in testimony before the Senate Committee on Banking, Housing, and Urban Affairs. […]
- Acting Comptroller Testifies on FSOC
Credit Union Placed into Conservatorship
Alexandria, Va. (May 4, 2011) – The National Credit Union Administration (NCUA) today placed Valued Members Federal Credit Union of Jackson, Mississippi, into conservatorship. Valued Members Federal Credit Union remains open and operating. While continuing normal member services, NCUA will work to resolve issues affecting the Valued Members Federal Credit Union’s safety and soundness.
Deposits at Valued Members Federal Credit Union remain protected. Administered by NCUA, the National Credit Union Share Insurance Fund (NCUSIF) continues to insure individual accounts at Valued Members Federal Credit Union up to $250,000. The NCUSIF, like the FDIC’s Deposit Insurance Fund, has the backing of the full faith and credit of the U.S. Government.
Valued Members Federal Credit Union was originally chartered in 1957 and serves Leake County, the underserved community of Madison County, and a number of employee groups in and around Jackson, Mississippi. The credit union has approximately $9 million in assets and 2,030 members.
The decision to conserve a credit union enables the institution to continue regular operations with expert management in place correcting previous service and operational weaknesses. During conservatorship, members may therefore continue to conduct business at the credit union.
The Federal Credit Union Act authorizes the NCUA Board to appoint itself conservator when necessary to conserve the assets of a federally insured credit union, protect members’ interests, or protect the NCUSIF. Valued Members Federal Credit Union is the fourth federally insured credit union placed into conservatorship during 2011.
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
www.ncua.gov
Media Contact: NCUA Office of Public & Congressional Affairs
Phone: (703) 518-6336
Email: dsmall@ncua.gov
Members of Valued Members Federal Credit Union who have questions about the conservatorship may review the Valued Members Federal Credit Union Frequently Asked Questions document posted on the NCUA website.
NCUA is the independent federal agency that regulates, charters and supervises federal credit unions. With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 90 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.