NAFCU

NCUA Chairman Mark McWatters has responded to a controversial letter from U.S. Sen. Orrin Hatch questioning the credit union tax exemption.

Recently filed court documents give the clearest sign yet that the National Credit Union Administration is considering appealing a controversial court decision on the regulator's revised field-of-membership rule.

NAFCU's Dan Berger fires back after CUNA CEO Jim Nussle criticized the rival trade group in a recent op-ed.

House Speaker Paul Ryan's decision not to seek re-election is another sign of the difficulties Republicans will likely face in holding the chamber in November, heightening pressure to move a pending regulatory relief bill as soon as possible.

Both national credit union trade associations submitted letters in advance of CFPB acting director Mick Mulvaney's House Financial Services Committee hearing.

Credit unions will know soon how much regulatory relief they might see from Congress and the Consumer Financial Protection Bureau.

The trades encouraged Congress to pass H.R. 5266, which would change the agency's governance to a five-member commission.

Credit unions have seen a slew of legal victories in lawsuits claiming CUs' websites violated the Americans with Disabilities Act, but there are fears attorneys pursuing those cases may be changing their strategy.

Efforts by financial institutions to track "beneficial ownership" data in advance of a regulatory deadline next month is complicated by the challenge of getting customers to cough up the information.

If the National Credit Union Administration appeals a judge's decision against part of its rule, it could help the ABA potentially upend other provisions.

Latest ADA website lawsuit against a credit union filed in Eastern District of Pennsylvania.

A federal judge has upheld two provisions from NCUA's revised field-of-membership rule but struck down two other measures related to population centers.

Congress has left Washington for a two-week recess, and credit union leaders are being urged to make their case for reg relief while legislators are back at home.

At a time when credit union leaders need to be heard as one voice, the leaders of two competing trade groups are exemplifying that spirit.

Credit unions will be watching as the Senate's regulatory relief bill heads to the House, but government spending and interest rates may delay that process by several weeks.

The bill – similar to legislation previously put forward – would delay implementation of NCUA's risk-based capital rule by an additional two years.

Experts say that despite having a few suits thrown out, the matter won't be settled until the Department of Justice provides clarity. But there are steps CUs can take to protect themselves until then.

The Senate will resume discussions on S. 2155, while the House focuses on the TAILOR Act and other measures.

The Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) is said to be "the most comprehensive regulatory relief to come onto the Senate floor in over a decade."

A federal judge has thrown out another ADA suit targeting a credit union website, but the industry is still waiting for clarity from the Department of Justice.