Tag Archives: credit unions

ABA Provides Background to Congress on Overreaching CU Proposals

As credit union officials hit Capitol Hill this week for an annual lobbying event, ABA today sent a letter to members of Congress that provides background information on several recent actions that would expand the scope and scale of credit unions and relevant questions for them to ask the visiting CU officials and lobbyists.

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NCUA Snubs Congress in Finalizing Business Lending Rule

The National Credit Union Administration board today voted to finalize significantly looser limits on business lending by credit unions. Among other things, the final rule exempts participations in loans to non-members from the statutory 12.25 percent member business lending cap.

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ABA, State Associations Hit Back at NCUA Membership Proposal

Proposed regulations from the National Credit Union Administration would render the concept of a common bond between credit union members meaningless, ABA said in a comment letter filed today. NCUA has proposed to expand the already loose fields of membership from which federal credit unions can draw their customers.

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ABA Calls out Delaware CU on Overreaching Membership Practices

In a letter to the National Credit Union Administration today, ABA said that the Seaford, Del.-based Sussex County Federal Credit Union must stop its “abusive field of membership practices” that allow individuals who are otherwise ineligible for membership to join through the credit union’s foundation.

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ABA Chides NCUA for Membership Rule Overreach

The National Credit Union Administration voted today to expand the already loose fields of membership from which federal credit unions can draw their customers, further erasing the distinctions between credit unions and banks.

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