Compliance

Roughly 28% of Swift's correspondent bank users have signed up for the cooperative's KYC Registry, defying early skepticism about financial institutions' willingness to share information.

ALEXANDRIA, Va. — The National Credit Union Administration (NCUA) late Wednesday said the director of the Michigan Department of Insurance and Financial Services (DIFS) placed Clarkston Brandon Community Credit Union (CBCCU) into conservatorship and appointed NCUA as its conservator.

Even without a change in federal law, credit unions and banks can manage the risks associated with the marijuana business, argues a former federal bank examiner who now works in the cannabis industry.

Even without a change in federal law, banks can manage the risks associated with the marijuana business, argues a former federal bank examiner who now works in the cannabis industry.

National Credit Union Administration Board chairman Debbie Matz and Consumer Financial Protection Bureau director Richard Cordray will team up for a webinar on Feb. 9.

The project is likely to be mirrored at banks around the country as the automated clearing house evolves from settling payments in three to five days currently to same-day settlement in September and faster payments beyond that.

Republican lawmakers agree with Obama that outdated regulations need to be changed, but were pessimistic that the administration would support efforts to roll back the compliance burden on banks.

NCUA sent a letter to credit unions outlining the agency’s top priorities examiners will be focusing on as they audit credit unions this year.

Credit unions and community bankers scored a significant victory while others in the mortgage industry lost out in the Federal Housing Finance Agency's final rule establishing membership standards for the Home Loan banks.

With the specter of an NCUA Board diminished to just two board members—possibly even all the way down to just one—hovering over the agency, a number of key regulations hang in the balance.