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.
U.S. consumers support cannabis banking, value overdraft protection and believe financial technology companies and credit unions should be held to the same standards as banks, according to a new survey commissioned by the American Bankers Association
Any sincere effort to improve financial inclusion through credit unions must include comparable mechanisms to ensure accountability, the banking groups said.
Ahead of a markup in the House Financial Services Committee, ABA and 51 state bankers associations urged lawmakers to oppose a bill, H.R. 7003, that would allow credit unions to expand their membership and business lending capacity—the credit union industry’s latest attempt at charter enhancement.
After 22 years at ABA, the association’s top lobbyist James Ballentine will soon retire. In this special episode of the ABA Banking Journal Podcast, Ballentine reflects on lessons learned during his career in Washington and shares tips both on effective banking advocacy and on promoting diversity and inclusion in banking.
Fifty-one state bankers associations wrote to lawmakers opposing the credit union industry’s “unnecessary” charter enhancement efforts as part of The Expanding Financial Access for Underserved Communities Act.
The Minnesota Department of Commerce has blocked the acquisition of Lake Area Bank—a state chartered bank—by Royal Credit Union.
Under a new law signed by Mississippi Gov. Tate Reeves, only FDIC-insured banks can acquire or merge with Mississippi-chartered state banks.
The American Bankers Association wrote today in opposition of the credit union industry’s latest attempt at charter enhancement.