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?

Dependent Care and Board Member Expense Reimbursement

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board is amending its regulations concerning the reimbursement of reasonable expenses for federal credit union (FCU) officials. The amendment revises the definition of compensation to exclude...

Preemption-Federal Credit Union Non-Interest Charges and Fees

SUPPLEMENTARY INFORMATION: I. Introduction A. Background Federal credit unions (FCUs) routinely rely on third parties for a range of products and services.[1] In particular, third parties are crucial to FCUs' provision of payment cards, which are vital and deeply...

Regulation for Federal Financial Assistance

SUPPLEMENTARY INFORMATION: I. Executive Summary The Office of Management and Budget (OMB) proposes to revise several parts of the OMB Guidance for Federal Financial Assistance located in title 2 of the Code of Federal Regulations (CFR), subtitle A, to improve and...

CUNA Assumes Mulvaney is Boss at CFPB; Sends Him Wish List

CUNA officials are assuming that Office of Management and Budget Director Mick Mulvaney is acting director of the CFPB and wasted wasting no time in sending him a laundry list of complaints about how the agency has operated. As a Republican House member from South...

Trump, Cordray Each Designate an Acting CFPB Director

Setting up a high-stakes legal and political battle, President Trump and CFPB Director Richard Cordray each designated an acting director for the agency following Cordray’s departure Friday. In a parting shot at the Trump Administration, Cordray announced he was...

Alexa Becomes Enrichment FCU Members’ New Banking Buddy

Enrichment Federal Credit Union has become the first credit union to roll out a new technology that allows members to manage accounts via voice-controlled smart speakers. Members of the Oak Ridge, Tennessee-based credit union will be able to move money between...

Email a Pervasive Threat With 20% Fraudulent

One in five emails were from unauthorized senders — meaning those emails were almost certainly fraudulent, according to research from San Francisco-based Email Authentication as a Service provider ValiMail. The research also indicated large financial services...