ALEXANDRIA, Va.—The NCUA board will meet Thursday to finalize its 2023-24 budget, review the normal operating level (NOL) for the Share Insurance Fund (SIF) for 2023, and propose a rule related to financial innovation.
Fresh Today
ALEXANDRIA, Va.–The failure of two credit unions during the time period of April—September of this year cost the National Credit Union Share Insurance Fund nearly $7 million, with nearly all of that represented by one CU, according to Semiannual Report to Congress by NCUA’s Office of Inspector General.
WATERBURY, Conn.— The former president of a Skyline Financial FCU has pleaded guilty to embezzling hundreds of thousands of dollars from the credit union, according to the U.S. Attorney’s Office for the District of Connecticut.
ARLINGTON, Va.—Total consumer credit rose 6.9% at a seasonally adjusted, annualized rate in October and is up 8.1% compared to a year ago.
WASHINGTON—Saying it supports the Consumer Financial Protection Bureau’s inquiry into tech companies’ payments practices, CUNA is also strongly encouraging the Bureau to “carefully examine and regulate these entities moving forward.”
DEXTER, Maine–Maine Highlands FCU has named a new president effective in January. With the new year, the $184.6-million MHFCU said it has selected Maria Wooten to fill the role. Wooten is currently EVP.
WASHINGTON–For the first time in history, the signatures of two women are appearing on U.S. currency.
SUPERIOR, Wis.–Members of the $102-million Hayward Community Credit Union have voted in favor of merging into the $642-million Superior Choice Credit Union.
DAKAR, Senegal—The World Council of Credit Unions’ (WOCCU) Technology and Innovation for Financial Inclusion (TIFI) Project here welcomed WOCCU President and CEO Elissa McCarter LaBorde for a series of workshops on growing SME lending, digitalization and gender lens investing in West African credit unions.
WASHINGTON—The Small Business Administration (SBA) Reauthorization Act as been introduced by Sen. Ben Cardin (D-MD), with a goal of improving and modernizing existing SBA programs as well as implementing new programs focused on underserved areas.