Tag Archives: credit unions

CFPB Fines Navy Federal $28.5M for Improper Debt Collection Practices

The Consumer Financial Protection Bureau today ordered Navy Federal Credit Union -- the nation’s largest credit union -- to pay $28.5 million in restitution and penalties for making undue threats to delinquent customers and cutting off electronic access to accounts and bank cards for customers that failed to pay delinquent loans.

Read More »

NCUA Board Reduces CU Exam Frequency

The National Credit Union Administration announced today that it will eliminate the annual examination requirement for federal and federally insured state chartered credit unions.

Read More »

Rep. King Calls for Update of GAO Credit Union Study

Rep. Steve King (R-Iowa) today wrote to House Ways and Means Committee Chairman Kevin Brady (R-Texas) urging Congress to update a previous Government Accountability Office study on the tax-exempt status and membership practices of credit unions.

Read More »

Obama Nominates Herrera to NCUA Board

President Obama yesterday named John Herrera to a vacant seat on the National Credit Union Administration board. Herrera is currently an executive at a community development financial institution.

Read More »

ABA: NCUA Rule Would Foster Speculative Real Estate Investments

ABA today urged the National Credit Union Administration to withdraw a proposed rule that would give federal credit unions greater incentives to spend depositors’ money on acquiring commercial real estate for leasing and on speculative real estate investments -- all while taking commercial properties off of local tax rolls.

Read More »