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WASHINGTON—The failure of two large banks has not just the federal government, regulators and the banks’ customers scrambling to respond, but also the nation’s credit unions, regulator and trade associations, which are offering a number of viewpoints, including whether any similar systemic risks exist within CUs. 

MASSENA, N.Y.—Credit unions leaders are telling CUToday.info they aren’t hearing many questions yet from members in the wake of the failure of two large banks, but they are also staying close to the matter and ensuring staff are well-versed on what is happening, are updating their respective boards on the soundness of their own organizations, and indicating the news could drive more consumers to CUs.

MADISON, Wis.–Loan growth at credit unions slowed modestly in January when compared with January of 2022, with savings also slowing during the month. The result was “modestly tighter” liquidity, according to CUNA chief economist.

WASHINGTON–The House of Representatives is adjourned this week, while the Senate will meet for three days, leaving just one hearing of interest to credit unions—and it’s expected to draw considerable attention.

WASHINGTON—As part of the CFPB’s required review of the mortgage loan originator rule under Regulation Z, the Bureau is seeking public feedback on the rule’s impact on small entities.