Tag Archives: credit unions

ABA Opposes New Overreaching CU Membership Proposal

In a comment letter to the National Credit Union Administration today, ABA expressed strong opposition to an additional proposal by the credit union regulator to amend its chartering and field of membership requirements for federal credit unions seeking community charters.

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ABA Sues Credit Union Regulator Over Field of Membership Rule

Immediately after the National Credit Union Administration's publication today in the Federal Register of a controversial final rule further expanding the already loose fields of membership from which federal credit unions can draw their customers, ABA filed a lawsuit in federal court to stop NCUA from implementing the rule.

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NCUA Finalizes FOM Rule, Proposes Additional Expansions

The National Credit Union Administration board voted today to finalize a controversial rule further expanding the already loose fields of membership from which federal credit unions can draw their customers, and proposed a new rule that would remove some of the few remaining FOM restraints.

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CFPB Fines Navy Federal $28.5M for Improper Debt Collection Practices

The Consumer Financial Protection Bureau today ordered Navy Federal Credit Union -- the nation’s largest credit union -- to pay $28.5 million in restitution and penalties for making undue threats to delinquent customers and cutting off electronic access to accounts and bank cards for customers that failed to pay delinquent loans.

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NCUA Board Reduces CU Exam Frequency

The National Credit Union Administration announced today that it will eliminate the annual examination requirement for federal and federally insured state chartered credit unions.

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Rep. King Calls for Update of GAO Credit Union Study

Rep. Steve King (R-Iowa) today wrote to House Ways and Means Committee Chairman Kevin Brady (R-Texas) urging Congress to update a previous Government Accountability Office study on the tax-exempt status and membership practices of credit unions.

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