Fed

• NCB Nabs Southeast Corp’s Stewart to Woo CU Correspondent Clients

  By Heather Anderson  |  May 1, 2013

  National Cooperative Bank executive calls banks' BSA reasons for dumping credit unions "an excuse."

• Fed Report Finds Credit Union Tax Advantage Inconclusive

  By Heather Anderson  |  April 25, 2013

  St. Louis central bank researchers discovered similar growth patterns despite "the often-heated rhetoric of competing advocates."

• Banks Close Credit Union Correspondent Accounts

  By Heather Anderson  |  April 24, 2013

  As many as 30 credit unions in West Virginia and Ohio have been scrambling to establish new correspondent vendors after a regional and national bank terminated their accounts over the past few weeks.

• Banks Cite BSA, Money Laundering Risk in Closing Credit Union Correspondent Accounts

  By Heather Anderson  |  April 16, 2013

  Huntington, JPMorgan Chase closed accounts at up to 30 West Virginia, Ohio credit unions, their corporates say.

• CUEG in Confab With St. Louis Fed

  By Marc Rapport  |  April 10, 2013

  Credit Union Economics Group meets with Federal Reserve officials for 11th year.

• Payday Lending Vilified Again

  By David Morrison  |  March 27, 2013

  A new report from the Center for Responsible Lending has documented that payday lending at six large banks is continuing, and the reported alleged it is damaging consumers financially.

• Consumer, Urban Coalitions Pushing Regulators Again on Payday Loans

  By David Morrison  |  March 20, 2013

  Letters to chief regulators calls for curbs on payday lending, citing risks to consumers and the institutions themselves.

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  PSECU’s Smith Appointed to Philly Fed Council

  By Heather Anderson  |  March 8, 2013

  Greg Smith of $4 billion Pennsylvania State Employees Credit Union joins community bankers on CDIAC panel.

• Loan Demand Steady, Rising Across Fed’s Districts

  By Michelle A. Samaad  |  March 7, 2013

  Fed Beige Book shows growing strength in real estate and residential activity.

• Feds Slap Collective $9.3 Billion Hit on Big Banks for Deficient Mortgage Servicing

  By Heather Anderson  |  March 1, 2013

  Thirteen institutions expected to also undertake loss mitigation efforts focused on foreclosure prevention in OCC/Fed settlement.