The brief supporting field of membership expansion – in the face of a lawsuit by the American Bankers Association – is a sign of continued collaboration between CUNA and NAFCU.
The Treasury Department significantly raised an estimate for how much the exemption will cost the government over the next decade, giving bankers some hope that their complaints are finally being heard.
Sens. Ron Wyden, D-Ore., Lisa Murkowski, R-Alaska, Elizabeth Warren, D-Mass., and Ed Markey, D-Mass., introduced a bill Wednesday that would allow credit unions to increase their business lending.
Credit unions and financial institutions are required to take steps to protect against cyberattacks, but small businesses that process payments are not doing enough to protect the security of the financial system, a credit union executive said Wednesday.
The National Credit Union Administration and credit union trade groups cheered a judge's decision to dismiss a lawsuit against the agency's member business lending rule, but ICBA is still mulling the possibility of an appeal.
Initial regulatory steps toward giving credit unions access to alternative sources of capital could add to bankers' concerns that their tax-advantaged rivals are expanding beyond their mission.
