Some 22 trade groups—including CUNA and NAFCU—are asking congressional appropriators to convert the CFPB into a five-member bipartisan commission whose nominees are confirmed by the Senate. “A Senate confirmed, bipartisan commission will provide a...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
NCUA Conserves Riverdale CU in Alabama
The NCUA conserved the $76.1 million Riverdale Credit Union in Selma, Ala. Thursday for unspecified safety and soundness issues, according to the federal agencies prepared statement. Though Riverdale posted a net worth of 12.58% at the end of the first quarter, its...
As Banks Brake, Credit Unions Gain Bigger Share of Auto Loans
Credit union lending rose 11.8% in April with new car loans and member business loans growing twice as fast as other sectors, CUNA Mutual Group reported Thursday. Real estate grew at a slower pace as higher interest rates discouraged refinancing and purchase loans and...
FOM Rules Follow Law, NCUA Tells Court
The NCUA is asking a federal judge to reject the American Bankers Association challenge to the agency’s recent field of membership rules, contending that the new regulations do not violate federal law. Congress gave the agency discretion in defining fields of...
Another Slow Month for Credit Union Mergers
The NCUA approved only 11 mergers in April, the second lowest number of consolidations approved so far this year. The 11 mergers was the lowest number of consolidations for the first month of the second quarter over the last nine years. In the last four Aprils, there...
Credit Unionsplaining – Now More Than Ever
“What we are discovering from the research is that particularly, the younger you get, the less you understand what it means what a member (is).” Recently, this quote inside a story written by our Peter Strozniak, caught my eye. And, for me, it was quite...