Compliance

The credit union movement is doing well overall, but NCUA Vice Chair Rick Metsger says it is up to CU boards of directors to make sure their individual credit unions are getting their fair share of loans.

Lawyers' private emails reveal just how much a pair of 2013 interchange-fee settlements favored the credit card industry. But those suits could be headed back to square one, giving retailers the chance to fight for better terms.

NCUA announced that New Bethel Federal Credit Union of Portsmouth, Va., was voluntarily liquidated. The decision was made after "determining the credit union was unable to restore viable operations."

Bureau's IG finds cost to renovate its offices were in line with similar projects taken on by other agencies and not extravagant.

WASHINGTON — More than a dozen Senate Democrats introduced legislation Wednesday that would prohibit employers from requiring job applicants to supply their credit histories.

NCR Corp. said the U.S. Securities and Exchange Commission doesn't intend to recommend enforcement action against the company over 2012 allegations of foreign business violations.

Sen. Richard Blumenthal (D-Conn.) is asking the Merchant Customer Exchange to explain why Apple Pay and other Near Field Communication-based payment systems were prohibited in some MCX stores shortly after the Apple wallet's 2014 launch.

Lawyer misbehavior caused a judge to torpedo American Express' interchange-fee settlement with retailers, a decision that imperils a similar settlement with Visa and MasterCard.

A U.S. judge rejected American Express Co.'s settlement with merchants over credit card fees after finding the plaintiffs' lawyer tainted the deal by exchanging confidential information with an attorney for MasterCard Inc.

Four Oaks Bank & Trust in Four Oaks, N.C., said its May 2011 enforcement action has been replaced with a more lenient agreement that requires it to address governance issues and other matters.

As the pace of new government regulations continues unabated, an increasing number of CUs are looking to outsource their compliance operations to third-party vendors to cut costs, paperwork and man-hours. Here's what to consider.

The House of Representatives has already passed two strong bills (the Protecting Cyber Networks Act and the National Cybersecurity Protection Advancement Act). We are now urging the Senate to take up and pass the Cybersecurity Information Sharing Act (S. 754) as soon as possible.

China's central bank on Friday proposed a series of restrictions that may restrict overall e-commerce activity rather than simply funnel it through the state-controlled banking system.

ALEXANDRIA, Va. — The ongoing dispute between state and federal regulators over NCUA's overhead transfer rate took yet another twist with the general counsel of NCUA writing a letter to the head of NASCUS that attempted to quash several of the trade group's arguments.

A lawsuit filed against NCUA was “a last resort” after the regulator declined an application for deposit insurance from a credit union chartered last year to serve Colorado’s legal marijuana industry.

Firing or cutting the pay of fraudulent or reckless bankers will go a lot further toward restoring the reputation of financial services than any new regulations, according to a reform-minded group of bankers and regulators.

NCUA issued four prohibition orders in July banning individuals from participating in the affairs of any federally insured financial institution.

Unhappy with the regulator's effort to pare back restrictions on CUs business loans, bankers have taken a page from the CU handbook, sending copious letters to NCUA about its proposed MBL rule.

DENVER—Fourth Corner CU here, chartered last year to serve Colorado's legal marijuana industry, has filed lawsuits against NCUA and the Federal Reserve after having its applications rejected for share deposit insurance and access to the Fed system, respectively.

The Federal Housing Administration is expected to rebuff a government watchdog report that blasted down payment assistance programs. The report has raised concerns that mortgage lenders would have to indemnify FHA for past loans, and that housing finance agencies would have the programs restructured.