Tag Archives: credit unions

ABA Calls out Delaware CU on Overreaching Membership Practices

In a letter to the National Credit Union Administration today, ABA said that the Seaford, Del.-based Sussex County Federal Credit Union must stop its “abusive field of membership practices” that allow individuals who are otherwise ineligible for membership to join through the credit union’s foundation.

Read More »

ABA Chides NCUA for Membership Rule Overreach

The National Credit Union Administration voted today to expand the already loose fields of membership from which federal credit unions can draw their customers, further erasing the distinctions between credit unions and banks.

Read More »

ABA Warns NCUA on Field of Membership Overreach

As the National Credit Union Administration prepares to vote tomorrow on a proposal that would substantially loosen credit unions’ field of membership limitations, ABA urged NCUA to stand up the credit union lobby and follow the law.

Read More »

ABA-Opposed CU Member Biz Lending Bill Introduced in Senate

ABA today voiced its opposition to a bill, introduced yesterday by Sens. Rand Paul (R-Ky.), Sheldon Whitehouse (D-R.I.) and Jack Reed (D-R.I.) that would raise the member business-lending cap for certain credit unions from 12.25 percent to 27.5 percent of total assets.

Read More »

Record Number of Comment Letters Filed on NCUA Proposal

The National Credit Union Administration received a record 3,086 comment letters on its proposed rule to expand member business lending, the agency said this week. Bankers responding to ABA’s call to action helped ensure that the majority of those letters – 2,759, according to NCUA – were opposed to the proposal. “This response makes a powerful statement. It shows that ...

Read More »