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?

Dependent Care and Board Member Expense Reimbursement

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board is amending its regulations concerning the reimbursement of reasonable expenses for federal credit union (FCU) officials. The amendment revises the definition of compensation to exclude...

Preemption-Federal Credit Union Non-Interest Charges and Fees

SUPPLEMENTARY INFORMATION: I. Introduction A. Background Federal credit unions (FCUs) routinely rely on third parties for a range of products and services.[1] In particular, third parties are crucial to FCUs' provision of payment cards, which are vital and deeply...

Regulation for Federal Financial Assistance

SUPPLEMENTARY INFORMATION: I. Executive Summary The Office of Management and Budget (OMB) proposes to revise several parts of the OMB Guidance for Federal Financial Assistance located in title 2 of the Code of Federal Regulations (CFR), subtitle A, to improve and...

Consumer Optimism Highest in Nearly Four Years: New York Fed

Last month, consumers reported the highest level of financial optimism since June 2013, according to the Survey of Consumer Expectations by the Federal Reserve Bank of New York. Expectations for household income growth and overall financial situation reached a record...

6 Actions Employers Can Take to Boost Retirement Savings

Lots of people point to self-indulgent millennials or debt-beleaguered GenXers or negligent boomers as the reason for the retirement crisis and the cause of their own hardships. But a Morningstar study instead points the finger at employers, and...

CO-OP THINK Panel Exchanges Payment Strategies

Credit union strategies and solutions for navigating the evolving payments landscape was an industry session lunch panel emphasis at the CO-OP Financial Services THINK 17 conference in New York City. On the panel: Jess Turner, EVP, North America digital payments and...

Trades Tally Hurt from Military Lending Rules

Credit unions serving military personnel have seen a drop in consumer loans, which trade groups attribute to regulations designed to protect service members from lending abuses. CUNA and an allied group, the Defense Credit Union Council, sent a seven-page letter to...

House Dems Want Additional Committees to Examine CHOICE Act

Democrats have requested three additional House Committees to review provisions of the House Financial Services Committee Financial CHOICE Act, a move that could delay House consideration of the measure. The Financial Services Committee approved Chairman Jeb...