News Topic: Federal Credit Union Act

The proposed legislation is similar to a package put forward in 2020 and another introduced in the House in 2019. ]] ... Read full article

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four ... Read full article

At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis ... Read full article

Despite what one critic says, Alaska USA Federal Credit Union’s acquisition of branches from TCF Financial will help underserved communities in Arizona. ... Read full article

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. ... Read full article

Navy Federal Credit Union is Exhibit A in banks' case to tax the credit union industry. But it wasn’t always seen as the powerhouse it is today. Meet Adm. Cutler Dawson, the man who changed that. ... Read full article

Putting aside the spin of both credit unions and banks, we offer some informed predictions about how the financial industry would be reconfigured if the century-old tax break were to disappear. ... Read full article

Banks and credit unions have been fighting each other so long that many have forgotten how the feud started and why it may matter to the future of both industries. ... Read full article

Long considered a political third rail in the U.S., the movement's tax exemption is taking some heat. Here's a sampling of how other countries have handled this debate. ... Read full article

A bombshell letter from a prominent senator and a court ruling criticizing credit unions’ interpretation of “field of membership” have bankers hopeful that Congress may finally be willing to examine the public-policy purpose of the Depression-era tax ... 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

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

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