By a two-to-one vote, the National Credit Union Administration board today finalized a controversial proposal to raise the threshold at which credit unions must obtain appraisals for commercial real estate transactions from $250,000 to $1 million.
On this bonus episode of the ABA Banking Journal Podcast, Karen Shaw Petrou of Federal Financial Analytics discusses her recent paper on whether credit unions are succeeding in their statutory mission to serve customers of “small means” — and what it means for the growing problem of economic inequality
In a letter to the National Credit Union Administration board and inspector general today, the American Bankers Association called for a “top-to-bottom assessment” of whether the credit union industry is living up to its statutory mandate to operate not-for-profit and serve people of “small means.”
On the eve of the 85th anniversary of the Federal Credit Union Act’s enactment, new research released today found that credit unions are falling short of their mission to serve households of “small means.”
In a move strongly opposed by the American Bankers Association, the National Credit Union Administration by a 2 to 1 margin today voted to delay the effective date of the 2015 risk-based capital rule until January 1, 2022.
In a May 21 letter to the National Credit Union Administration, Senate Minority Leader Chuck Schumer (D-N.Y.) asked the regulator to conduct an immediate review of its supervisory practices in the wake of “deeply troubling conduct” by credit unions involved in New York’s taxi medallion business.
The National Credit Union Administration board today proposed a rule that would allow federal credit unions to have up to 50% of their deposits come from other credit unions and government entities, up from a 20% cap today.
A move by the National Credit Union Administration to quadruple the appraisal threshold for nonresidential real estate loans could have broad-reaching consequences for the financial system, according to an op-ed by Appraisal Institute President Stephen Wagner published in American Banker today.
The American Bankers Association and the Consumer Bankers Association on Friday wrote to the Consumer Financial Protection Bureau Director expressing strong opposition to a recent request from the Credit Union National Association.
The National Credit Union Administration last week requested public feedback on ways it can change its regulations on loan-based compensation to “provide greater flexibility.”