Approximately 45% of federally insured credit unions would have to develop extensive new interest rate risk management policies, according to a rule issued by the NCUA on Thursday
Celebrity personal finance expert Suze Orman has launched a prepaid debit card which could wind up costing credit unions significant amounts of money.
The FDIC’s fund for insuring banks will have to pay out $19 billion because of bank losses over the next five years, a decline from the original estimate of $23 billion, the agency said last week.
Senate Banking Committee gives nod to Gruenberg for FDIC and Curry for OCC.
At a recent credit union meeting when I raised the subject of the NCUA’s recent proposal to permit credit unions to voluntarily prepay assessments, earning 0% interest with the agency, CEO heads were shaking. All in disbelief and all in response to the question, “Will your credit union be participating?”
Less than four months into her tenure as chairman of the House subcommittee with primary jurisdiction over credit unions and other financial institutions, Rep. Shelley Moore Capito (R-W.Va.) has already tackled a wide range of issues.