News Topic: NCUA

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

National Credit Union Administration Board Member Rick Metsger says a federal judge overstepped the court's bounds when striking down portions of the agency's field-of-membership rule, but stopped short of saying the regulator planned to appeal ... Read full article

If the National Credit Union Administration appeals a judge's decision against part of its rule, it could help the ABA potentially upend other provisions. ... 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

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

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

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

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

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision. ... Read full article

The Maryland credit union will offer business services to the medical cannabis industry. ... Read full article

J. Mark McWatters of the National Credit Union Administration will have no favorites among community financial institutions. ... Read full article

The Trump administration should not name J. Mark McWatters as head of the consumer agency, given his lack of experience overseeing commercial banks and his leadership of the National Credit Union Administration, a cheerleader for the industry it ... Read full article

In his current position as chair of the National Credit Union Administration, J. Mark McWatters has publicly advocated for cutting back the CFPB’s oversight of the credit union industry. ... Read full article

J. Mark McWatters, chairman of the National Credit Union Administration, is said to be in contention to take over as director of the Consumer Financial Protection Bureau. ... 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

The Trump administration's first interagency assessment of systemic risk highlighted many of the same worries as previous reports, but added a new emphasis on economic growth and regulatory tailoring. ... Read full article

Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts. ... Read full article

Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers. ... Read full article