NCUA

Kyle Hauptman, an aide to Sen. Tom Cotton, R-Ark., also served on the president's 2016 transition team. He would replace board member Mark McWatters, whose term expired last year.

Fed Chair Jerome Powell will address lawmakers twice this week while the Supreme Court could come out with a long-awaited ruling on the Consumer Financial Protection Bureau.

The industry was well positioned in terms of net worth before the pandemic and recession, but some institutions could run into issues with sluggish earnings and a surge in deposits.

The regulator cited "unsafe and unsound practices" at the Georgia-based institution, which is the first credit union to be conserved this year.

A memorandum of understanding will include webinars and training events to increase the industry's understanding of Ex-Im products.

In an effort to help the industry manage the economic downturn, some credit unions won't be required to submit plans to lower their retained earnings for the rest of this year.

Financial institutions are trying to determine how to best protect branches as some demonstrations following George Floyd's death turn violent.

Rodney Hood, the first African American to lead a banking agency, said in a deeply personal statement that he was "familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race."

A trio of former credit union employees received lifetime bans from the financial services industry, including one who was accused of stealing almost $15,000.

The closure of IBEW Local Union 712 Federal Credit Union marks the first CU to shut its doors in the wake of the coronavirus.