Browsing: Credit unions

Legal

In a comment letter to the National Credit Union Administration on Wednesday, the American Bankers Association called for the withdrawal of a proposal that would allow large credit unions to issue subordinated debt for regulatory capital purposes from outside for-profit investors—such as corporate debt markets—while maintaining their tax-exempt status.

Policy

After last week blocking the sale of First American Bank’s remaining Iowa-based assets and branches to a credit union, the Iowa Division of Banking has settled with the bank and approved its application to sell substantially all of its assets and liabilities to the credit union and go out of business as a bank.

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