NCUA

The Wisconsin Bankers Association is rejecting a National Credit Union Administration ruling that the Federal Credit Union Act preempts a pair of state banking statutes.

In a letter responding to a request for clairty from the Wisconsin Credit Union League, the federal regulator expanded its preemption to include state-chartered, federally insured CUs.

The two major national credit union trade associations have sent recommendations for improving the Consumer Financial Protection Bureau’s enforcement processes.

A recent Washington Post investigation revealed that J. Mark McWatters runs the National Credit Union Administration from his home in Dallas, raising questions about his being tapped to head the consumer agency.

The California-based credit union says membership saw ‘solid’ growth in the first quarter of 2018.

The administration is prolonging a decision on a permanent director for the agency to keep the interim chief in place until year-end or longer.

The National Credit Union Administration has banned seven former credit union employees from participating in the affairs of any federally insured financial institution.

Banks and credit unions have been fighting each other so long that many have forgotten how the feud started and why it may matter to the future of both industries.

A bombshell letter from a prominent senator and a court ruling criticizing credit unions’ interpretation of “field of membership” have bankers hopeful that Congress may finally be willing to examine the public-policy purpose of the Depression-era tax break.

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.

As NCUA amended at 2014 regulation on capital planning and stress testing, the two-person committee also marked 24 months of operating with a vacant seat on the board, commending one another for a productive working relationship.

Representatives from the law firm of Messick, Lauer & Smith took part in a compliance panel during the National Association of Credit Union Service Organizations' annual conference in Anaheim, Calif.

After FinCEN issued its final BSA rule, the NCUA plans to address requirements about ongoing customer due diligence.

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

As lawmakers consider reforms to the Dodd-Frank Act, fresh data shows a dramatic reduction in new items issued by the regulatory agencies.

National Credit Union Administration board member Rick Metsger says a federal judge overstepped the court's bounds when striking down portions of the agency's field-of-membership rule, but stopped short of saying the regulator planned to appeal the decision.

UNCLE Credit Union is continuing its expansion into the Stockton, Calif., market via merger with Allied Trades CU.

While the merger was legally completed nealry a year ago, it was not until recently that the process of integrating the two institutions' technology was wrapped up.

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.

After 32 years of service – 20 as CEO – the credit union veteran will step down at the $1.2 billion-asset institution.