DENVER—Fourth Corner Credit Union is asking a federal court to deliver a faster resolution in its case against the NCUA over share insurance coverage now that it has received conditional approval from the Federal Reserve Bank of Kansas City to serve legal marijuana businesses in Colorado.
THE news
CINCINNATI—Consumers may be in for a shock this year when find out their lease payments are higher than in years past.
ALEXANDRIA, Va.-The National Credit Union Share Insurance Fund shows a significant increase in reserves to reflect “probable and estimable” losses by specific credit unions, which is widely believed to refer to losses by CUs that made loans for taxi medallions that have plummeted in value.
ALEXANDRIA, Va.–In what was referred to as a “historic day” that “no one thought would ever come,” the NCUA board has voted in favor of making an equity distribution to credit unions from the NCUSIF of $735.7 million to be paid in the third quarter of this year.
WASHINGTON—In releasing the CFPB’s new five-year Strategic Plan, Acting Director Mick Mulvaney said the agency will not act outside its statutory authority or “misuse” its powers.
WASHINGTON—Presidents of multiple Federal Reserve Banks last week responded to the recent stock market fluctuations and gave their expectations for the Fed's monetary policy going forward. Although inflation remains lower than some would like, many believe strong labor markets indicate a March rate hike, one analyst reports.
WASHINGTON—As the Trump administration considers removing Financial Crimes Enforcement Network (FinCEN) guidance that has allowed financial institutions to open accounts for marijuana businesses without running afoul of federal regulators, Treasury Secretary Steven Mnuchin offered some insights into how the Treasury Department may respond to the growing area of marijuana banking.
WASHINGTON—The Federal Reserve is reporting that outstanding consumer credit at credit unions grew during December; but at a slower pace than in November, according to the G.19 report.
MINNEAPOLIS, Minn.—According to a new survey of nearly 300 financial institutions across the country—no surprise—payments fraud losses remain an issue for a majority of respondents.
PHOENIX—Several credit unions aired TV ads during the Super Bowl, including Desert Financial CU, which turned to a well-known authority to educate its market that “School’s out” of its name.