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?

Request for Information Regarding Enhancing and Streamlining Data Collection From Credit Unions

AGENCY: National Credit Union Administration. ACTION: Notice; request for information. SUMMARY: The National Credit Union Administration (NCUA) is issuing this request for information (RFI) on opportunities to enhance and streamline NCUA's data collections....

Bank Conversions and Mergers, Subpart C-Merger of Insured Credit Unions Into Banks

( printed page 21391) AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is proposing to amend its regulations governing the merger of insured credit unions into banks. The Board proposes to eliminate certain prescriptive procedural,...

Sharing is Daring – NACUSO

By Nate AndersonPresident & CEOrekindle The Control Conundrum My local community hosts a Tuesday night “running group.” They run together, then go out for drinks and food afterward. Every week they do this.  I’ve known about this group for over a year and have yet to...

Study Reveals Best & Worst States for Credit Conditions

Cardratings.com in Foster City, Calif. recently released the results of a national study to find out what states have the best and worst credit conditions. The credit conditions of each state were determined and ranked using five categories: average credit score from...

Should Financial Orgs Hack the Hackers?

Rep. Tom Graves, R-Ga., introduced a bill as a discussion draft that would allow a victim of a cyberattack to access the attacker’s computer in order to gather information about the attack to share with law enforcement or to stop the hacker from continuing to...

Credit Unions Try to Counter Trump’s Dismantling of CDFI

Some community development credit union officials said that they rely on the funds provided by the Community Development Financial Institutions Fund (CDFI) to help provide start-up loans to businesses. However, the Trump Administration has proposed killing the...

Former Board Chair & Board Member Who Held CU Captive Found Guilty

A former credit union board chair and CEO and a board member face decades in prison for their roles in taking control of a New Jersey credit union and using it to conceal an illegal Bitcoin operation that ran tens of millions of dollars in ACH transactions. Last week,...

The Intersection of Wall and Main

For decades, credit unions have sold themselves as being different than other financial institutions. Their corporate structure as cooperatives made them different in form but the difference went beyond just that. They were smaller, dedicated in philosophy and...

Regulatory Hurdles Too High for Potential New Credit Unions

Efforts to encourage new credit unions are hamstrung by a 17-step chartering process and burdensome regulations—hurdles that are too high for many potential financial institutions to clear, the president of a New York City credit union told a House subcommittee...