NCUA

A report from the trade group shows that state-chartered credit unions saw greater first-quarter membership gains than their federal counterparts and posted lower rates of consolidation.

Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.

More than 70% of the industry now has access to the emergency liquidity source, according to the regulator.

The credit union regulator has not yet announced an agenda, but the meeting could potentially include mattes related to field of membership and risk-based net worth.

The regulator banned a former CU employee from working in financial services on the basis of allegations that he misused funds when working at an Indiana credit union.

Credit unions won the day as the Supreme Court rejected an appeal that would have limited consumers' access to financial services. Now Congress must act to remove those field-of-membership restrictions entirely.

The industry claimed victory over banks as the Supreme Court elected not to hear a challenge to a controversial 2016 rule, but the landscape has shifted dramatically since NCUA approved the measure.

The Supreme Court ruled the Consumer Financial Protection Bureau's leadership structure is unconstitutional and refused to hear a lawsuit over the NCUA's field of membership rule. Credit unions are watching to see what happens now.

The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016.

Nearly 900 institutions are set to receive a payout related to the demise of Southwest Corporate FCU, but the agency could ultimately return as much as $2.5 billion tied to the corporate credit union failures of 2009 and 2010.