The House Financial Services Committee on Thursday approved Chairman Jeb Hensarling’s (R-Texas) Financial CHOICE Act to overhaul Dodd-Frank, after defeating Democratic amendments to the bill. The committee approved the bill along party lines, 34-26. It now...
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?
Many Consumers Avoid Banking Apps Without Biometrics: Study
Eight in 10 bank customers want biometric authentication beyond the fingerprint in their mobile banking and payment apps, and 42% said they refuse to use mobile banking or payment apps that don’t have biometric authentication, according to a new survey....
Credit Union Summer Tour
I’ve been traveling a lot in the past month for both work and not-work reasons. On each trip, I’ve made a point to ask people, family members, Uber drivers and business professionals about credit unions to see what they know and think. I spoke with 18...
Senate Confirms Jay Clayton as SEC Chairman
The full Senate confirmed Jay Clayton as chairman of the Securities and Exchange Commission by a 61-37 vote this week. Industry groups were quick to applaud the former Sullivan & Cromwell partner’s appointment, with most expressing their view that...
NCUA Receives $400 Million From Credit Suisse Settlement
The NCUA has received $400 million from Credit Suisse for claims filed in connection with purchases of residential mortgage-backed securities by three corporate credit unions, the agency announced Wednesday. The agency said legal recoveries in connection with the...
Committee Defeats Democratic CHOICE Act Amendments to Beef Up CFPB
As the second day of the House Financial Services Committee’s markup of the Financial CHOICE Act unfolded, Republicans defeated amendments intended to bolster the CFPB. The panel then bogged down over two Democratic amendments; one would prohibit any rulemaking...