NCUA

Credit unions across the mid-Atlantic are bracing for Hurricane Florence, with many closing their doors and not expecting to reopen until next week.

Regulators have approved the merger of Vibe and Okland County Credit Unions, which is expected to take effect early next year.

Credit union advocates shattered records with the number of comment letters they sent the regulator when its original risk-based capital proposal was issued, but a revision proposed last month garnered just 37 responses.

The Senate Banking Committee said it is postponing a hearing on the implementation of regulatory relief for "logistical reasons."

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.

There's a flurry of credit union-related activity on tap in Washington this week, but it could all get pushed aside by Hurricane Florence.

Net income up is up for the industry on average, but the number of federally insured credit unions has dropped to 5,480.

There are more credit unions in the Community Development Financial Institution Fund program than banks, but advocates are pressing for even greater involvement.

After months of negative headlines, including administrative charges against a former CEO, regulators shuttered the NYC-based credit union.

Remote exams could save the National Credit Union Administration $50,000 on travel costs alone, and participating CUs say the project is a good start – but there is still work to be done.