John Reosti

Credit unions are still clamoring for regulatory relief, only this year it's CFPB—not NCUA—that is prompting the loudest criticism.

The Financial Accounting Standards Board is giving a handful of community banks a chance to explain why a plan to change the accounting for loan losses will result in major hardship — and credit unions may want to follow suit, according to one CU advocate.

The Financial Accounting Standards Board is giving a handful of community banks a chance to explain why a plan to change the accounting for loan losses will result in major hardship. The proposal would force banks to record a loan-loss provision once a loan is originated, rather than when a loss becomes probable.

The number of locally owned banks in Westchester County has shrunk from 25 institutions in the 1970s to just four today. PCSB, which moved its headquarters to the county after buying a local bank, hopes to settle in quickly.

Thomas O'Brien made good on a 2015 promise to turn a profit in every quarter. This year, his goal is to stay profitable to earn back a deferred-tax asset that should meaningfully increase the New Jersey company's valuation.

The banking group, already irate over a plan to drastically change the timing of loan-loss provisions, is blasting remarks by FASB Chairman Russell Golden linking community banks to the financial crisis. FASB, meanwhile, said the comments were meant to be a criticism of current credit loss models — not banks.

Directors at credit unions used to work for free, but that is starting to change — and it's rankling banking industry officials who say it's another example of the nonprofit cooperatives mimicking banks without shouldering the same tax burden.

Finally released from a long-standing regulatory order, FNBH in Michigan is looking forward to ramping its lending, expanding its capabilities in wealth management and moving forward on plans to revamp its core processing system.

The agency made good on a vow to make 2015 the "year of regulatory relief," causing headaches for the banking industry in areas such as field of membership and member business lending.

Despite getting off to what CUs likely consider a rocky start with the agency’s second attempt at RBC, industry observers say Matz came through on her promise of a ‘Year of Regulatory Relief.’