A New York credit union has filed suit in federal court accusing the Trump Administration of a “hostile takeover” of the CFPB following the resignation of agency Director Richard Cordray. The Lower East Side People’s Federal Credit Union filed suit...

U.S. student loan debt now equals the size of the $1.3 trillion U.S. high-yield corporate bond market, presenting investors with a whole different range of risks. “Delinquency rates on student loans are much higher than those on auto loans or mortgages, due to...

The NCUA said Monday it liquidated the $54.9 million Riverdale Credit Union in Selma, Ala., which posted a net income loss of $14.4 million at the end of the third quarter of 2017. Riverdale was placed into conservatorship in June 2017 because of unsafe and unsound...

I recently spoke at two different conferences for credit unions. During both speeches, I asked the audiences (approximately 125 people at one and 105 at the other) if they were aware that the CFPB was considering rules to regulate first-party collections. I also asked...

Senate majority leader Mitch McConnell (R-KY) The tax overhaul legislation passed by the Senate early Saturday retains the credit union tax exemption—virtually ensuring that it will be retained in any tax legislation sent to President Trump this year. The Senate...

While the CFPB grabs headlines, another independent U.S. regulator is quietly locked in its own showdown with the Trump administration. The Federal Housing Finance Agency is in deep discussions with the White House over what to do with more than $7 billion owed...