News Topic: Federal credit unions

The Defense Credit Union Council and the Association of Military Banks of America sent dueling letters to Congress about whether banks should pay for space on military installations. ... Read full article

The NCUA is letting Union Yes in California raise capital by turning to temporary funding sources, which banks have complained is an example of the regulator's overreach. ... Read full article

While NCUA lawyers fielded questions about the possibility of redlining, a three-judge appeals panel showed skepticism about other elements of the ABA's arguments against changes to credit union membership rules ... Read full article

Members of both parties want to make it easier for legal cannabis businesses to access financial services, but myriad obstacles stand in the way of that goal. ... Read full article

Credit unions have hired executives away from banks for years. Now banks are returning the favor. ... Read full article

Credit unions won't have to comply with the controversial rule until at least 2020, but a separate proposal on alternative capital could raise the ire of banking groups. ... Read full article

The agencies issued a joint statement on the types collaborative arrangements that a bank could employ to make BSA/AML compliance more efficient. ... Read full article

The $506 million-asset GFA Federal Credit Union says it will begin accepting clients in the recreational marijuana business, making it the first Massachusetts financial institution to do so. ... Read full article

A new rule from the NCUA is designed to curry more favor with judges by establishing a detailed application process for expansion-minded credit unions. Banks complain it would be too permissive. ... 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

Credit union groups were scrambling Wednesday to respond to a letter from Senate Finance Committee Chairman Orrin Hatch questioning whether the industry had outgrown its income-tax exemption. ... Read full article

U.S. Reps. Gwen Moore and Paul Cook introduced a bill this week would allow more credit unions to expand their fields of membership to underserved communities. ... Read full article

Lawmakers signaled Monday that Congress will likely have a swift and powerful response to revelations that the credit reporting company Equifax was hacked, exposing 143 million people to identity theft. ... Read full article

The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is ... Read full article

The NCUA is letting federal credit unions securitize and sell assets. Such transactions would free up capital at credit unions, allowing them to make more loans. ... Read full article

Credit unions continue to press the Consumer Financial Protection Bureau for regulatory relief, arguing that existing exemptions have not gone far enough. ... Read full article