News Topic: Credit unions

Four banks have agreed to be sold to credit unions this year. Expect more deals between the longtime nemeses because the smallest banks are of less interest to other banks than they used to be, and some credit unions are in growth mode. ... Read full article

Small financial institutions are eager to see the Senate’s reform bill signed into law, but House efforts to amend the legislation risk stalling the effort. ... Read full article

A federal judge struck down two provisions of the NCUA's field-of membership rule, while upholding two others. ... Read full article

Attorney General Jeff Sessions made headlines in January when he tightened federal marijuana enforcement. But the good news for financial institutions looking to service the pot industry is that the rest of the government has responded with a shrug. ... Read full article

LGE Community Credit Union has a deal to acquire Georgia Heritage Bank. It's the fourth time this year a credit union has agreed to buy a bank. ... Read full article

The company's planned purchase of Coastway Bancorp in Rhode Island makes sense since both institutions used to be credit unions. ... Read full article

The National Credit Union Administration’s defense of changes to a field-of-membership rule was challenged by a federal judge on Wednesday, suggesting an American Bankers Association lawsuit against the revisions may be successful. ... Read full article

Timothy Zimmerman is optimistic about regulatory relief and the capabilities of the association's next CEO, but he remains wary of nonbank competition and cybersecurity risk. ... Read full article

If community banks fail to keep up with higher rates offered by online banks, credit unions and (soon) big banks, their liquidity may deteriorate even faster. ... Read full article

The Russia probe puts a national spotlight on a Chicago bank exec; CFPB's Mulvaney and Sen. Warren face off (again) while a credit union CEO takes a surprising position on the industry's tax exemption. ... Read full article

Readers weigh in on whether or not banks should take a stand on gun control, opine on digital banking outages, reflect on banks building more branches in the internet age and more. ... Read full article

Iowa lawmakers are considering a bill that would lower taxes for banks and impose a franchise tax on credit unions. The move could be a bellwether for other states looking at similar measures. ... Read full article

Acting CFPB Director Mick Mulvaney dismissed concerns by Sen. Elizabeth Warren, D-Mass., about his leadership of the consumer agency while supporting a lighter regulatory touch for credit unions. ... Read full article

Lawmakers should consider taxing large, banklike credit unions that have strayed from their original fields of membership, argues a credit union executive. ... Read full article

Credit union executives talked up a pending regulatory relief effort while endorsing a radical shift in direction by the Consumer Financial Protection Bureau during a meeting with President Trump and other top White House officials on Monday. ... Read full article

National Credit Union Administration Chairman J. Mark McWatters made an appeal to credit union executives to work with small community banks when it comes to advocating for shared goals. ... Read full article

The National Association of Federally-Insured Credit Unions and the Credit Union National Association sent a joint letter to Sen. Orrin Hatch on Wednesday defending the credit union charter and its tax status. ... Read full article

Fifty-two state bank trade associations sent a letter to Sen. Orrin Hatch, R-Utah, encouraging him to continue his review of the credit union tax exemption. ... Read full article