Freedom Northwest in Idaho hopes a proposal from the NCUA will help it bring in more deposits to fund a fast-growing mortgage business. Banks are crying foul.
Readers weigh in on the role of the Financial Accounting Standards Board, consider personnel changes at the Consumer Financial Protection Bureau, debate the viability of public banks and more.
The credit union regulator’s proposal to raise the appraisal threshold for nonresidential real estate loans won’t harm the economy or consumers, contrary to critics’ claims.
The credit union regulator’s proposal to raise the threshold for home-sale appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.
A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes.
The National Credit Union Administration and the Small Business Administration have established a program to boost SBA lending by credit unions, which was very light last year. It is sure to irk bankers, who have raised competitive concerns.
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
