U.S. consumers are generally unaware of the differences between banks and credit unions, and they believe credit unions should be held to the same standards as the banks, according to a new survey conducted by Morning Consult on behalf of ABA.
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Legislation to make it easier for credit unions to underwrite large-scale commercial real estate development projects undermines their congressionally mandated mission to serve people of modest means in underserved areas, ABA said.
In an American Banker op-ed, ABA’s Robert Flock took the National Credit Union Administration to task over its role in supporting the significant expansion of the credit union industry, including its latest efforts to expand credit union chartering and field of membership rules.
In a comment letter, ABA opposed the National Credit Union Administration’s proposed rule to significantly expand federal credit unions’ field of membership to include out-of-state remote workers and noncontiguous rural districts, resulting in a pathway for FCUs to obtain a nationwide FOM
ABA and two banking associations asked the leaders of the Senate and House Armed Services Committees to support requiring the Department of Defense to treat banks and credit unions equally by exempting both from rent requirements on military bases.
The credit union regulator’s recent Wall Street field trip for CUs undercuts arguments for special tax privileges.
The American Bankers Association’s longstanding opposition to credit union acquisitions of taxpaying community banks was captured in a story in American Banker last week exploring the concerning trend.
High-profile banking laws driven by politics and model policies are roaring out of state legislatures—our “laboratories of democracy.” And are we headed toward being a country of red-state banks and blue-state banks?
In comments today, the American Bankers Association opposed an effort by the National Credit Union Administration to amend its current subordinated debt rule to expand credit unions’ ability to issue subordinated debt for the purposes of regulatory capital treatment.
Banks now surpass credit unions in nearly every service category as rated by U.S. consumers, according to this year’s survey.