Credit unions

Credit unions are continuing to buy community banks, although at a slower pace than in 2024.

The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.

The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.

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.