Credit unions

Making good on threats it had made previously, the Independent Community Bankers of America filed suit Wednesday against the National Credit Union Administration, claiming the agency's recent overhaul of its member business lending rules violate two different laws.

Until recently, credit unions rarely used arbitration clauses, and were praised by consumer advocates for pro-customer practices. But credit unions have learned to embrace the use of arbitration clauses – and now oppose the Consumer Protection Bureau’s plan to rein them in.

Small-business owners heard "no" more often in July when seeking loans from big banks after six months of improving prospects.

Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.

Executives at several minority-owned community banks nationwide, including OneUnited Bank in Boston and Carver Federal Savings Bank in New York, say they have received a windfall of deposits in recent weeks, coinciding with the introduction of the Black Money Matters Project.

Some banks are looking to reenter small-dollar consumer lending now that a recent CFPB proposal has given them greater regulatory clarity. But they may need help from technology companies to make a very labor-intensive business more profitable.

Lobbyists for the credit union industry are decrying a proposal to limit forced arbitration clauses despite ample evidence that credit unions don’t use such clauses in the first place.

Citibank is offering surcharge-free ATM access to the customers of 16 credit unions and minority-owned banks in six cities.

By teaming up, community banks are hoping they'll be able to get some leverage in hammering out tech agreements with megavendors such as FIS, Fiserv and Jack Henry.

The prospect of banks and credit unions meeting small-dollar loan demand is at risk under the Consumer Financial Protection Bureau's restrictive proposal.

The latest crop of prohibition orders includes one against an employee involved in the fraud that led to the failure of Taupa Lithuanian CU.

The Consumer Financial Protection Bureau will unveil sweeping federal regulations Thursday for payday lenders that could open the door for competition from banks, while forcing lenders to move toward longer-term installment loans. Here's what to track when the plan is released.