Credit unions

The National Credit Union Administration rule expanding member business lending introduces new risks and lacks legal basis.

Already defending itself against a lawsuit challenging its member business lending rule, the credit union regulator now must grapple with a challenge to field-of-membership regulations. Some observers suggest the scope of the legal approach is unprecedented.

The American Bankers Association has filed a lawsuit against the National Credit Union Administration, arguing that the regulator's new field-of-membership rule go too far.

The Independent Community Bankers of America has asked a federal judge to reject a motion by the National Credit Union Administration petitioning for the dismissal of a lawsuit filed by the ICBA that challenges recent revisions to the agency's member business lending regulation.

If there is one thing credit unions and banks can agree on with regard to the National Credit Union Administration's latest effort to revamp its field-of-membership rules it is this: a lawsuit is brewing.

Many fully expected the agency to approve the significant overhaul of its field of membership rule, but the regulator went one better, issuing a new proposal that raises the population limit on well-defined communities from 2.5 million to 10 million.

WASHINGTON — A bipartisan group of House lawmakers on the financial services panel introduced legislation Wednesday that would help banks remotely open accounts.

The Massachusetts banker is honored for her commitment to financial education and entrepreneurship.

The state of Washington halts a plan to update its 15-year-old member business loan rule while the federal regulation undergoes a legal challenge from the Independent Community Bankers of America.

Ten institutions are rising above national grievances to help startups – many minority owned – get up and running in a struggling mill town.