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WASHINGTON–Thousands of credit union reps will head to Capitol Hill this week for an annual celebration of democracy—and frustration. Gridlock in Washington has made it nearly impossible to get any legislation through Congress, and there is no better example than CUs, which combine a grassroots army with large political action committee funds. What can be done?

NEW YORK–UBS AG has made an offer of judgment to NCUA for $33 million, plus prejudgment interest, to resolve a lawsuit filed by NCUA over the sale of mortgage-backed securities sold to corporate credit unions that later failed.