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?

Renewal of Agency Information Collection of a Previously Approved Collection; Request for Comments

AGENCY: National Credit Union Administration (NCUA). ACTION: Notice of submission to the Office of Management and Budget. SUMMARY: As required by the Paperwork Reduction Act of 1995, The National Credit Union Administration (NCUA) is submitting the following...

Proposed Third-Party Risk Management Guidance

AGENCY: The Office of the Comptroller of the Currency (OCC), Treasury, the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA). ACTION: Proposed interagency...

Renewal of Agency Information Collection of a Previously Approved Collection; Request for Comments

AGENCY: National Credit Union Administration (NCUA). ACTION: Notice of submission to the Office of Management and Budget. SUMMARY: As required by the Paperwork Reduction Act of 1995, The National Credit Union Administration (NCUA) is submitting the following...

PAL Program Can’t Replace Payday Lenders: Pew

The highly touted NCUA Payday Lending Alternative model is not an effective replacement for storefront short-term lenders that charge customers exorbitant interest rates, Nick Bourke, director of The Pew Charitable Trusts’ consumer finance project said Monday....

CFPB Wants to Know How Well It Engages With Public, Stakeholders

The CFPB is asking for public comments on how well it engages with the public and stakeholders, including the activities of its Credit Union Advisory Council. The request for information in assessing its public and non-public is one of several Acting Director Mick...

Former Michigan CEO Admits Embezzlement

Stanley Hayes, former president/CEO of the liquidated Valley State Credit Union, is scheduled to be sentenced in April after he admitted to embezzling $710,000 from the Saginaw, Mich. cooperative. Michigan Attorney General Bill Schuette said Hayes pleaded guilty in a...

Florida CUs Rally for High School Shooting Victims & Families

While the mood throughout south Florida remains somber following the shooting deaths of 17 people at Marjory Stoneman Douglas High School in Parkland, Fla. on Valentine’s Day, credit unions throughout Broward County are rallying behind the school community and...

Professionals Make Moves at Credit Unions, CU Direct

This past week, employees at five credit unions began new positions. Plus, auto lending CUSO CU Direct promoted an executive. WEST The $1 billion Credit Union 1 in Anchorage, Alaska promoted James Wileman from COO to president/CEO. Wileman joined Credit Union 1 as...