The National Credit Union Administration must return all credit union monies that come from merging the insurance and stabilization funds, and halt its proposal to increase the normal operating level for the share insurance fund.
The National Credit Union Administration has laid out a detailed and comprehensive reform plan, with proposals ranging from minor procedural changes to more ambitious goals, like a firmer assertion of federal preemption over state laws.
A regulatory plan to create new restrictions on banks’ executive compensation practices appears dead – but changes since the financial crisis may have made the proposal largely obsolete anyway.
The nation’s largest state set out to bring a once-illicit industry into the financial mainstream but is now running into a Washington, D.C.-size barrier.
Expanding the definition of a credit union's "common bond" so that it is essentially meaningless appears to be the direction the industry and its regulator are headed.
National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources.
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 trade group filed a brief backing an effort by the American Bankers Association to push back against the NCUA's planned revisions to field-of-membership regulation.
