NCUA

The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule.

Rodney Hood served on the NCUA board from 2005 to 2009, and his nomination to return to the board was greeted warmly across the industry.

While credit unions posted strong lending numbers and growth stats, the overall number of federally insured credit unions continued to decline during the first quarter of 2018.

Bankers hope to claw back even more of the agency's rule rather than merely defend their partial victory in the judge's original split decision.

The revisions – approved by a May 30 notation vote – could ease the burden for credit unions approaching the MBL cap.

The NCUA board is considering adding as many as two additional payday alternative loan options for credit unions, and regulators have clarified a rule on severance claims after involuntary credit union liquidations.

At the 2018 CUNA CFO Council conference, an NCUA staffer offered examples of how the regulator aims to improve the exam process and make it easier for credit unions to do business.

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.