Deregulation is now a word my teenage sons understand. They’ve heard it enough from the news and my mouth. What they don’t understand is how a washing machine works. But that’s another issue for another time. There’s an excitement around the...
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?
McWatters Optimistic of Corporate Stabilization Fund, Share Insurance Fund Merge
NCUA Acting Chairman J. Mark McWatters said Thursday that he remains optimistic that the agency will be able to fold the temporary corporate stabilization fund into the Share Insurance Fund this year. “I’ve not seen anything on the accounting side that...
Leominster CU to Help Low-Income Homebuyers
Leominster Credit Union will distribute a $110,000 grant to low-income homebuyers in Massachusetts who are buying a home for the first time or are a displaced homemaker. Eligible homebuyers can receive up to $11,000 in down payment and closing cost assistance. The...
Credit Union Sued for Discriminatory Lending Practices
A fair housing organization is claiming the $3.7 billion Bellco Credit Union discriminated against women by denying them mortgages because they were on maternity leave, according to a federal lawsuit filed in U.S. District Court in Denver last month. In a statement...
Financial Choice Act Hearing Date Is Set
Jeb Hensarling, House Financial Services Committee Chairman, said Wednesday that he will hold a hearing to discuss the Financial Choice Act, his bill to replace Dodd-Frank, on April 26. The Financial Services Committee approved the Financial Creating Hope...
Boomers Turning Frugal, Anticipating Sparse Retirement
They’re expecting it, because of all they’ve endured during the Great Recession and its wake—a retirement that might not be all that comfortable. And they’re cutting back accordingly. Boomers, according to a CBS Moneywatch report,...