Credit unions

Laurie Stewart, a former credit union CEO and incoming chair of the American Bankers Association, says a string of bank sales to credit unions supports the case that the latter's tax-exempt status should be eliminated.

The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas.

The 2018 Statistical Report from the World Council of Credit Unions shows the industry continuing to grow, though 80% of global assets are held in North America.

FCUs are regaining their appeal given the resources NCUA has put into helping de novos and the potential for expanded fields of membership.

The group's Wake Up initiative will include legislative and regulatory proposals, along with added resources to help members push for a level playing field.

Draft legislation would amend the Bank Service Company Act to give the National Credit Union Administration third-party vendor oversight, a power it has been requesting for the better part of two decades.

A study commissioned by the Florida Bankers Association found that 70% of participants supported Congress requiring CUs with at least $500 million in assets to pay income taxes.

The four prudential agencies, which will enforce the new credit loss methodology developed by the Financial Accounting Standards Board, said they want to promote consistency.

Bank groups that lobbied unsuccessfully for the rent waivers credit unions receive now back a bill that would create equal rates for both industries.

The court passed up a recent opportunity to clarify confusion about Americans with Disabilities Act requirements for business websites, raising concerns among bankers that they could become an even more inviting litigation target.

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

The banking trade group is asking for an en banc rehearing of its field-of-membership challenge before all 17 judges of the D.C. Court of Appeals.

The agency chairman's comments mark an unusual turn for an industry famous for its bipartisanship.

Frustrated after being overlooked by mainstream financial institutions, organizers of the proposed Pagan Federal Credit Union are hoping to be chartered by the end of the year.

The regulator has pledged to put forth a rule on credit union-bank purchases before the end of the year. It's likely to lead to another clash with bankers.

Their challenge is creating a viable, profitable product that doesn't get flagged for being predatory.

The Herb Wegner Memorial Awards will be handed out in February to a trio of long-time industry leaders.

After investing in a payments CUSO earlier this year, the Florida-based credit union is looking for additional opportunities to work with fintechs.

The deal expands the number of compliance tools owned by credit union leagues and other industry groups.

Laura Lee Stewart, president and CEO of Sound Community Bank in Washington, is set to be the third woman to serve as chairman of the American Bankers Association. She's already aiming how to make use of her tenure.