ARLINGTON, Va.—State-chartered credit unions are paying an outsized amount to fund NCUA as the result of budget shifts the agency has made related to the share deposit fund, according to the trade group representing state regulators.
Fresh Today
ALEXANDRIA, Va.—It is almost always the first question asked when long-term fraud is discovered inside a credit union: where were the regulators?
NEW YORK—Problems for credit unions making taxi medallion loans in this city markedly increased it the fourth quarter of 2015, according to Call Report data—including a huge annual loss at Melrose CU of $176.6 million due in large part to increased allowance for loan losses.
ALEXANDRIA, Va.—The Superintendent of the Ohio Division of Financial Institutions Thursday placed tiny Cory Methodist Church Credit Union, of Cleveland, into conservatorship and appointed the NCUA as conservator.
WASHINGTON–The House yesterday voted 250-169 in favor of HR 766, the “Financial Institution Customer Protection Act of 2015,” which seeks to put limits on the Justice Department’s Operation Choke Point. The legislation has the backing of both NAFCU and CUNA.
SCOTTSDALE, Ariz.—If ransomware has yet to become a concern for the credit union community, it should be this year, as ransomware attacks are expected to dramatically increase, analysts warn.
ARLINGTON, Va.—NAFCU has sent a letter to the House Small Business Committee leaders in advanced of the committee’s mark-up Thursday of the Small Business Administration budget documents.
GRAND RAPIDS, Mich.–The CU*Answers Internet Retailer Support Center (IRSC), a new support desk for credit union virtual channel project managers, launched its first four Membership Application Process (MAP) sites this week for Honor Credit Union, Frankenmuth Credit Union, Pathways Financial CU, and Element FCU.
COLUMBUS, Ga. – A number of credit unions have announced new merger plans or the completion of mergers.
IRVINE, Calif.—Home prices closed out 2015 up both year over year and month over month, according to the CoreLogic Home Price Index and HPI Forecast.