ALEXANDRIA, Va. - (12/19/05) NCUA and the credit union trade groupshave moved quickly to respond to charges by two bankingorganizations that a staffing crisis at NCUA isputting credit unions-and the deposit insurance fund--at risk. NCUAChairman JoAnn Johnson asserted there is no cause for concern.The NCUA is strongly positioned from a staffing standpointto address normal and any anticipated contingencies," she said in astatement. Most recently, the agency reallocated resourcesafter Hurricane Katrina and Rita without adversely impactingoperational programs. The wise use of agency resources remains ahigh priority." NAFCUs Carrie Hunt dismissed the letter asjust another attack from the banks. CUNA CEO Dan Micaagreed, adding, Credit unions have nothing to apologize forwhen it comes to safety and soundness Furthermore, it'sastounding to hear any banker trades, especially ones that includethe remnants of the thrift industry, express any opinionswhatsoever about the adequacy of credit union regulation, giventheir record of failure in this area. Moreover, the bankingindustrys significant and costly violations of the BankSecrecy Act show they still haven't put their own house inorder.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3