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?

Statutory Lien

This site displays a prototype of a “Web 2.0” version of the daily Federal Register. It is not an official legal edition of the Federal Register, and does not replace the official print version or the official electronic version on GPO’s govinfo.gov. The documents...

Member Business Loans; Commercial Lending

AGENCY: National Credit Union Administration (NCUA) ACTION: Interim final rule; request for comments. SUMMARY: The NCUA Board (Board) is amending its regulations governing member business loans and commercial lending. This interim final rule eliminates an outdated,...

Treatment of Emergency Amendments: Paycheck Protection Program Liquidity Facility and Paycheck Protection Program Loans

SUPPLEMENTARY INFORMATION: I. Introduction A. Background On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law.[1] The law provided aid to the U.S. economy during the COVID-19 pandemic. The CARES Act...

5 Ways to Make Charitable Giving Count

Natural disasters can occur without warning, leaving widespread devastation in their wake. This year, millions of Americans were impacted by Tropical Storm Harvey and Hurricane Irma, as well as by Northern California wildfires – just three of many unforeseen...

Final Tax Conference Report Retains CU Tax Exemption

Efforts to retain the credit union tax exemption neared the finish line Friday night, as House and Senate Republican negotiators signed off on a massive tax overhaul bill with the exemption intact. The legislation is the product of a House-Senate conference committee...

Wall Street Super Watchdog Now a Forum to Cut Rules Under Trump

A high-powered panel that’s meant to spot dangers to financial stability is now urging regulators to review how rules are holding banks back, the latest sign of how much Wall Street oversight has changed under President Donald Trump. In its annual report...

LOS Tech Generates Mobile-First Environment for Michigan CU

The $516 million, Flint, Mich.-based Financial Plus Credit Union built a loyal member base by providing the basics, but recognized the need to introduce new technologies to remain relevant to members.  Founded in the 1950s by Chevrolet employees, Financial...

FSOC Renews Call for NCUA Control Over Third-Party Servicers

Once again, the Financial Stability Oversight Council is calling on Congress to give the NCUA examination and enforcement powers over third-party service providers. The NCUA is among the few financial regulators that does not have such powers, the FSOC said in its...

NCUA Conserves Kentucky Police Credit Union

Just 10 days after it was publicly revealed that the $28.7 million Louisville Metro Police Officers Credit Union was under investigation for suspected internal theft, the Louisville, Ky., cooperative was conserved by the NCUA Friday. “The NCUA placed Louisville...