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...

Retirement Savers Turning to Advisors

Autonomy ain’t what it’s cracked up to be—at least not when saving for retirement. So seems to be the reasoning of employees saving for retirement in an employer-provided 401(k) plan. In a CNBC report, Vanguard says that more than...

CU Uses Biometrics to Stay Secure and Competitive

Today's consumers demand cutting-edge technology for everything from their cars, smartphones, grocery stores (Amazon Go) and yes, even their banks. Major banks are investing heavily in new technology to provide the latest and greatest to their customers, often by...