The FDIC on Tuesday did something the NCUA board has steadfastly refused to do. It increased by two basis points the assessments banks must pay in an effort to shore up its Deposit Insurance Fund. [...]
Some colleges and universities are roping students into opening credit union or bank accounts that have unreasonable fees and penalties, the CFPB said, in a report released late last week. And in some cases, those [...]
Treasury Secretary Janet Yellen has announced the formation of a Treasury Advisory Committee on Racial Equity and that Bill Bynum, CEO of HOPE, will serve on the panel. Among other activities, HOPE operates the Hope [...]
For credit unions, the items left out of the new Senate version of the defense authorization bill are more notable than the measure’s contents. Yes, the bill takes up more than 560 pages of [...]
Previewing what may be the industry’s reaction to the NCUA’s 2023 budget, two credit union executives say the agency wants to spend too much money next year—particularly in the current economic environment. “[...]
As federal financial regulators struggle with how to deal with climate-related issues, the Financial Stability Oversight Council (FSOC) has created an advisory committee to study those issues. Among the members of the committee announced this [...]
CUNA plans to spend $2.5 million on targeted campaign ads in support of eight incumbent members of Congress. CUNA operates one of the largest trade group Political Action Committees and so far for the [...]
Credit unions no longer would be able to use a Low-Income Designation as acceptable documentary evidence of a primary mission of community development, under a proposal to be unveiled shortly by the Treasury’s Department [...]
Congress managed to keep much of the federal government and the National Flood Insurance Program funded before leaving for the campaign trail last week but punted on many major issues—either preferring to consider them [...]
When consumers launch, join, and use credit unions, they make both financial and social choices. Financially, they are seeking favorable pricing, inclusive underwriting, a broad range of products and services, and quality member service. Socially, [...]
Credit unions have become significant competitors with banks and their presence should be a part of any bank merger evaluation, Federal Reserve Governor Michelle Bowman said last week. “Credit unions whose field of membership includes [...]
President Biden this week jumped on the so-called “junk fee” bandwagon and called on federal regulators to eliminate them. And he singled out overdraft fees as particularly odious. “[W]hat we’re talking about today [...]
The NCUA should make it clear that more credit unions may use its recently announced simplified Current Expected Credit Loss (CECL) Tool, NAFCU said last week. “It is imperative… that as many credit unions as [...]
The NCUA’s Share Insurance Fund is in solid shape, with the agency’s equity ratio standing at 1.26% at the end of June, agency CFO Eugene Schied told the NCUA board Thursday at [...]
The NCUA will resume onsite examination and supervision on Oct. 17, taking the next steps in reopening, following the pandemic-related shutdown. In announcing the move, NCUA officials said that given the lessons learned from remote [...]
