ALEXANDRIA, Va.–Noting that nearly one-third of CU mergers are the result of a lack of succession planning, the NCUA board has voted 2-1 to put out for 60-day comment a proposal that calls for federal credit unions to have a succession plan in place for key members of management and boards.
WASHINGTON–The Consumer Financial Protection Bureau (CFPB) said it has launched an initiative to “save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies.”
ALEXANDRIA, Va.—During its open meeting Thursday the NCUA board will propose a rule on succession planning and be briefed on the impact of the expiration of the CARES and Consolidated Appropriations Acts.
WASHINGTON–The Federal Reserve’s Open Market Committee has adjourned its January meeting without raising rates, while also indicating it is getting close to doing so.
LOS ANGELES–University Credit Union (UCU) said it has become the first credit union in California to eliminate overdraft fees for its members.
BISMARCK, N.D.–North Dakota’s governor has sent a comment letter to NCUA urging it to remove language from its proposed 2022-2026 strategic plan that discourages credit unions from lending to farmers and ranchers.
CHARLOTTE, N.C.–Bank of America said it plans to distribute more than $1 billion worth of restricted stock to virtually its entire workforce as it seeks to gain an upper hand in the war for talent.
WASHINGTON—Credit unions continue to wrestle with employee vaccination policies after the Department of Labor's Occupational Safety and Health Administration (OSHA) withdrew its vaccination and testing emergency temporary standard (ETS), previously issued in November 2021.
WASHINGTON—Credit unions and CUSOs that provide tax assistance to members—along with members themselves—will want to keep several tax changes in mind as tax season kicks off.
MADISON, Wis.–Wisconsin has announced the theme for this year’s National Credit Union Youth Month, which is April. The objective during Youth Month is for credit unions to help teach and encourage kids to develop strong financial habits.
