Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.
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.
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.
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
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.
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.
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.
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.
