Only Six People Have Participated in Postal Banking Pilot

Only Six People Have Participated in Postal Banking Pilot

David Baumann of the Washington Credit Union Daily reports that a mere six people have participated in the United State Postal Service’s postal banking pilot program, USPS officials said.

Read more
NCUA Charters Fourth New Credit Union This Year

NCUA Charters Fourth New Credit Union This Year

The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Unity of Eatonville Federal Credit Union in Eatonville, Florida, reports David Baumann of the Washington Credit Union Daily .

Read more
NCUA Board Sets NOL at 1.33%, Adopts Compromise Budget

NCUA Board Sets NOL at 1.33%, Adopts Compromise Budget

The NCUA board agreed to a compromise budget that will return $15 million to credit unions next year and set the agency’s normal operating level at 1.33% for 2022, reports David Baumann of the Washington Credit Union Daily. The NCUA board also made decisions on final rules for the capital adequacy regulation and mortgage servicing rights.

Read more
NCUA Reg Agenda: Bank Purchases, Overdrafts

NCUA Reg Agenda: Bank Purchases, Overdrafts

During the next six months the National Credit Union Administration board may issue final rules governing overdrafts and the purchase of a bank by a credit union, the agency said in its Fall regulatory agenda.

Read more
CFPB: Crackdown on Overdraft Policies is Coming

CFPB: Crackdown on Overdraft Policies is Coming

The CFPB intends to crack down on financial institutions that charge the largest fees for overdrafts and is considering “a wide variety of regulatory interventions” to better supervise such fees, Director Rohit Chopra said.

Read more
Financial Service Committee to Consider CU Member Expulsion Bill

Financial Service Committee to Consider CU Member Expulsion Bill

The House Financial Services Committee on Tuesday will consider legislation that would make it easier for credit unions to expel members who pose a threat or engage in dangerous or illegal conduct, reports David Baumann of the Washington Credit Union Daily.

Read more
Defense Bill is Latest Forum for Marijuana Banking Fight

Defense Bill is Latest Forum for Marijuana Banking Fight

Marijuana banking, not bank access to military bases, may emerge as a major issue for credit unions as the Senate prepares to consider its version of the annual defense authorization bill, reports David Baumann of the Washington Credit Union Daily.

Read more
Credit Unions Want Quick Guidance on Digital Assets

Credit Unions Want Quick Guidance on Digital Assets

Many credit unions appear to be anxious for the National Credit Union Administration to issue guidance about how they may host a digital wallet and use other new technology to provide new services to their members, reports David Baumann of the Washington Credit Union Daily.

Read more
Harper Endorses Report Identifying Climate Change as Systemic Risk

Harper Endorses Report Identifying Climate Change as Systemic Risk

Federal financial regulators, including NCUA Chairman Todd Harper, endorsed a plan to ensure that agency rules and policies address the risks of climate change, reports David Baumann of the Washington Credit Union Daily.

Read more
NCUA Board to Consider Final CUSO Rule on October 21

NCUA Board to Consider Final CUSO Rule on October 21

The National Credit Union Administration board on Oct. 21 will consider a final rule governing the permissible activities for Credit Union Service Organizations—an issue that has been a contentious one for board members in the past, reports David Baumann of the Washington Credit Union Daily.

Read more