Compliance

Obama's surprise move to place newest National Credit Union Administration board member on beleaguered bank board leaves many industry insiders wondering who will leave first—Chairman Matz or McWatters?

A new credit union advocacy and public affairs firm, known as Leverage Point, Inc., launched last week with a few familiar faces on board.

Sen. Bernie Sanders and former Gov. Martin O’Malley pledged to reinstate the Glass-Steagall Act to separate commercial and investment banking, while former Secretary of State Hillary Clinton said her reform plan was the only one to go after the nonbanks like AIG which caused the crisis.

Overlapping missions and jurisdictions are fueling competition between the Consumer Financial Protection Bureau and the Federal Trade Commission, according to former officials at both agencies.Feds Launch Massive Debt Collection Enforcement Sweep

Credit unions are still eagerly awaiting more information on the $5.1 billion settlement the megabank reportedly agreed to that would help the National Credit Union Share Insurance Fund recoup at least a portion of the losses sustained during the financial crisis.

Several Republican presidential candidates called for a rollback of regulations on Thursday, saying that over-regulation is choking off job growth and the economy.

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.

District Government Employees Federal Credit Union in Washington, D.C., and Whitefish Credit Union in Montana have begun collaboration with COMPASS 4 CUs on regulatory compliance support.

One week after regulators uncovered some financial irregularities at its operations, Clarkston Brandon Community Credit Union (CBCCU) said its branches are “open and fully functional” and its employees are “ready to meet” members’ needs.

Digital and alternative currencies are often cast as libertarian-friendly payment vehicles whose very mission engenders government antagonism. But in Canada, things are a bit friendlier.

The agency scrapped a part of its 2014 proposal that would have required Home Loan Bank members to maintain a certain percentage of residential mortgage assets in order to keep their membership. But the agency held fast on a provision that would disqualify captive insurance firms from membership.