A group of 51 state bankers associations wrote to congressional leaders today calling for a review of the credit union industry to determine whether it is living up to its statutory mission of serving people of “small means.”
Browsing: Credit unions
ABA today urged the National Credit Union Administration to withdraw a proposed rule that would allow federal credit unions to have up to 50% of their deposits come from other credit unions and government entities, up from a 20% cap today.
In a letter to the National Credit Union Administration board Friday, ABA expressed grave concern over NCUA’s recent vote to delay for a second time the required implementation of the 2015 risk-based capital rules.
Large, corporate credit unions that are effectively operating as tax-free banks are endangering the traditional community bank model and doing harm to local communities, according to an Illinois Bankers Association op-ed published in The State Journal Register earlier this month.
By a two-to-one vote, the National Credit Union Administration board today finalized a controversial proposal to raise the threshold at which credit unions must obtain appraisals for commercial real estate transactions from $250,000 to $1 million.
On this bonus episode of the ABA Banking Journal Podcast, Karen Shaw Petrou of Federal Financial Analytics discusses her recent paper on whether credit unions are succeeding in their statutory mission to serve customers of “small means” — and what it means for the growing problem of economic inequality
In a letter to the National Credit Union Administration board and inspector general today, the American Bankers Association called for a “top-to-bottom assessment” of whether the credit union industry is living up to its statutory mandate to operate not-for-profit and serve people of “small means.”
On the eve of the 85th anniversary of the Federal Credit Union Act’s enactment, new research released today found that credit unions are falling short of their mission to serve households of “small means.”
In a move strongly opposed by the American Bankers Association, the National Credit Union Administration by a 2 to 1 margin today voted to delay the effective date of the 2015 risk-based capital rule until January 1, 2022.
In a May 21 letter to the National Credit Union Administration, Senate Minority Leader Chuck Schumer (D-N.Y.) asked the regulator to conduct an immediate review of its supervisory practices in the wake of “deeply troubling conduct” by credit unions involved in New York’s taxi medallion business.