A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.
Ally and other direct banks continue to report strong deposit growth even as they slash the rates they pay to depositors. The trend suggests that the online-only approach has more staying power than its detractors believed.
The National Credit Union Administration plans to unveil new capital proposals on Thursday. It's a given that bankers won't like them, but credit unions could also find themselves disappointed.
While most banks are shrinking their branch networks, the Cincinnati bank is approaching the day where its branch expansion in the Southeast will more than offset closings in its legacy markets, its CEO says.
