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While it's true that the National Credit Union Administration needs the authority to regulate third-party vendors, credit unions themselves have considerable power to force vendors to observe best practices.
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The National Credit Union Administration lacks the authority to regulate third-party vendors that supply vital services to the industry. This creates a major risk to credit union customers and the broader U.S. economy.
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Credit unions don't enjoy an unfair advantage. What they do is reinvest in their members and their communities in a way banks often do not.
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Leaving credit unions exempt from the Community Reinvestment Act preserves a gaping hole in regulations designed to make sure that financial services firms make loans available in underserved communities across the country.
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Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.
The trend of credit unions buying banks is a lightning rod for controversy in the banking industry. Despite this, such mergers are increasingly common.
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The first Asian American to join the National Credit Union Administration board, Otsuka has had a career highlighted by consumer advocacy, a focus on financial stability and support for underserved communities.
December 9
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The Most Powerful Women in Credit Unions honorees discuss their response to inflation and the challenges facing underserved communities.
November 19
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This year's honorees demonstrate the courage and experience necessary to address the rise of digital commerce, AI, bank and fintech rivals.
November 19
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Enforcement actions from the Consumer Financial Protection Bureau still fresh in the mind of financial leaders have renewed hopes that a second Trump administration will favorably alter the agency's future.
November 18
The institution took the lead spot in American Banker's annual ranking of Best Credit Unions to Work For in part by giving employees freedom and flexibility in how they do their jobs.
New policies, aided by partnerships with local organizations, are helping credit unions make significant progress on DEI.
The 70 institutions on this year's list create a great work environment by offering robust benefits, recognizing a job well done and providing clear communication from the C-suite.