As the credit union industry lobbies Congress this week, the American Bankers Association today urged all members of the House and Senate to question the tax-exempt status of the $2 trillion industry.
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National Credit Union Administration Chairman Todd Harper today made the case that consumer financial protection standards at credit unions should match those adhered to by the nation’s banks.
The National Credit Union Administration on Thursday unanimously approved—with changes—a final rule expanding field of membership requirements for multiple common bond federal credit unions.
A Tennessee court today issued a temporary injunction blocking the sale of Memphis-based Financial Federal Bank, a subsidiary of FedCorp, to Orion Federal Credit Union.
In a joint letter with the Independent Community Bankers of America and the National Community Reinvestment Coalition today, the American Bankers Association urged lawmakers to schedule an oversight hearing for the National Credit Union Administration, in light of several recent NCUA rulemakings that the groups said “would undermine important statutory guardrails designed to protect low-income consumers.”
Credit unions fell behind banks in terms of customer satisfaction, according to the 2021 American Consumer Satisfaction Index released this week.
Former American Bankers Association Chair Laurie Stewart today called for policymakers to revisit the credit union tax exemption, which is estimated by Treasury to total nearly $25 billion in lost revenue by 2031.
In a wide-ranging interview with American Banker, ABA Chair Scott Anderson discussed his objectives for the year ahead and touched on a number of key industry issues.
In a two-to-one vote today, a deeply divided National Credit Union Administration board approved an ABA-opposed proposal that would expand the range of permissible lending activity for credit union service organizations, or CUSOs.