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.

In a comment letter to the National Credit Union Administration today, ABA expressed support for NCUA’s effort to review and update two of its primary data collection vehicles.

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

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.

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.

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.

Credit unions in Massachusetts provide insufficient consumer benefits to offset the favorable taxt and regulatory treatment they enjoy, according to a study released today by research firm PolEcon.

As millions of Americans filed federal income taxes today, ABA President and CEO Rob Nichols wrote to Congress urging lawmakers to end the credit union tax exemption.