Browsing: Credit unions

Newsbytes

In a letter to House Financial Services Committee leaders today, the American Bankers Association expressed opposition to a bill that it called a “backdoor effort by the credit union industry to expand its membership rolls at the expense of tax-paying banks.”

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In testimony before the House Financial Services Committee earlier this week, National Credit Union Administration Chairman Todd Harper urged lawmakers give his agency examination and enforcement authority over third-party vendors, including credit union service organizations, or CUSOs, to address what he called a “growing regulatory blindspot.”

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The American Bankers Association yesterday panned two proposals by the National Credit Union Administration to simplify current risk-based capital requirements for “complex” insured credit unions with more than $500 million in assets.

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The American Bankers Association today urged the National Credit Union Administration to withdraw a proposed rule that would expand the range of permissible lending activity for credit union service organizations, or CUSOs.

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