Eliminating field of membership enables credit unions' money grab


Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.


Supreme Court won't hear bankers' appeal in credit union membership suit


The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016.


Regulators update Volcker, swaps and rate-cap rules


Five financial regulatory agencies clarified the meaning of "covered funds" under the Volcker Rule. Meanwhile, the FDIC gave certain banks more flexibility in interaffiliate exchanges of swaps and adopted a workaround of a court decision governing interest rates on loans sold across state lines.


NCUA’s new low-income definition will benefit military, not credit unions


Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided.


The civil rights issue of our generation


As the U.S. celebrates Juneteenth, it's imperative that credit unions find ways to ensure all Americans have access to the banking services necessary to thrive.


NCUA’s low-income designation hurts service members


A decision that expands the low-income definition to all active-duty military personnel will only enable large credit unions to push out smaller competitors, removing choice for people in the military.


NCUA looks to keep field-of-membership case out of Supreme Court


The agency has responded to the American Bankers Association's legal request to strike down expanded membership rules for credit unions.


Regulators unite on small-dollar loan principles for banks, credit unions


Four federal agencies offered guidance Wednesday on how to offer products that compete against payday loans without incurring Washington's wrath. The announcement could spark the rebirth of deposit advances, which were regulated out of existence during the Obama administration.


Community banks call on Congress to rein in credit union regulator


The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation.


Regulators urge banks to monitor security of cloud service providers


The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous.