Credit unions

The firing of National Credit Union Administration board members further erodes the political independence of bank regulators, experts say, in a way that could trickle up to the Federal Reserve.

President Donald Trump has ousted Todd Harper and Tanya Otsuka, Democratic board members of the National Credit Union Administration, before the end of their Senate-confirmed terms in the latest example of bipartisan regulator boards being undermined in Washington.

The combination of San Diego County Credit Union and California Coast Credit Union would create the 16th largest credit union in the United States.

Provident Bank's Tara Brady was promoted to chief experience officer; the Federal Reserve ended its enforcement action against Nano Banc; Jim Nussle announced plans to retire as CEO of America's Credit Unions; and more in this week's banking news roundup.

The cumulative evidence of research and experience shows that overdraft is a necessary and beneficial service, especially in the hands of a credit union.

The North Carolina House of Representatives this week passed a measure that would allow credit unions to expand into geographic areas with few, if any, bank branches. Banks say such a change could open the door for credit unions to expand far beyond their limited missions.

Americans spent 49% more on overdraft-related fees in 2023 than previously estimated, according to new research, which finds that credit unions were largely responsible for the previously uncounted revenue.

The Independent Community Bankers of America wants Congress to eliminate tax exemptions for credit unions with more than $1 billion of assets, scaling back an earlier request that would have targeted the entire credit union sector.

NuMark Credit Union said it would buy Lemont National Bank. After a record-setting 2024, it's only the second such credit union-bank combination so far this year.

Security worries have kept many financial institutions from sending payments on TCH's real-time payments network and FedNow. But ABNB Federal Credit Union had other ideas. Here's how its team prepared.

Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.

Jenkins succeeds retiring CEO Gary Regoli at the Florida-based credit union, which has acquired several community banks and launched a bitcoin service that it later shut down.

Edward Arthur Nurse was in charge of the vault at Park Side Credit Union. Then $389,000 went missing, replaced by piles of fake cash.

A study sponsored by America's Credit Unions finds that removing credit unions' tax-exempt status could raise consumer costs by $234.6 billion over 10 years, hurt GDP and result in job losses.

FNB Corp marked the grand opening of its new downtown Pittsburgh headquarters this week. The bank owns and occupies the majority of the 26-story tower in the city's Hill District, a new addition to the city's skyline and one of the few new towers built in the city's business district in recent years. And long-time bank executive Robert Goldstein has died at 84.

Republicans' emerging tax bill could include a measure to subject some credit unions to federal taxes, reigniting a long-simmering conflict between bankers and credit unions.

The credit union suffered a ransomware attack in June 2024 that affected nearly all of its banking systems.

Jon Weiss, Wells Fargo's co-CEO of corporate and investment banking resigned from his position with plans to retire; A new CFPB report says military service members paid more for auto loans and add-on products; City National Bank's Kelly Coffee is leaving the bank after her 2023 demotion; and more in this week's banking news roundup.

John Asbury, who is CEO of Atlantic Union Bankshares, said credit unions that compete head-to-head with for-profit banks should lose their tax-exempt status. He also called for bank regulation based on complexity rather than size.