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...

Millennials Looking for Different Benefits, Perks From Work

Employers trying to puzzle out which benefits will fetch and keep millennials might be barking up the wrong tree with some of their selections.  According to a report in Employee Benefits, 16% of U.K. employees would rather have their dogs in the...

Mobile Banking Use Influences Other Channels: Raddon

Mobile banking usage grew 34% in less than a decade according to research from Lombard, Ill.-based Raddon, a Fiserv Company. The study also recommends how to optimize the technology. The report, “Raddon Research Insights: Grappling with Mobile Banking Engagement...

States Expand Student Lender Probes to Forgiveness Program

A prominent U.S. Department of Education loan contractor became the latest target of a broadening enforcement effort by state attorneys general Wednesday.  Massachusetts sued the Pennsylvania Higher Education Assistance Agency, which does...

Existing Home Sales Fall to Lowest Level This Year

Existing home sales declined for the second month in a row in July to its lowest level this year as inventory remains relatively low and prices continue to increase, the National Association of Realtors reported Thursday. The decline in existing home sales, which...

Hurricane Harvey Bearing Down, Texas CUs Close Shop

At least six of the 13 credit unions based in Corpus Christi, Texas will be closed Friday and Saturday as the coastal city of more than 320,000 is expected to be in the center of Hurricane Harvey when it hits landfall Friday night. An additional eight credit unions in...