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.
Huntington, JPMorgan Chase closed accounts at up to 30 West Virginia, Ohio credit unions, their corporates say.
Credit Union Economics Group meets with Federal Reserve officials for 11th year.
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.
Letters to chief regulators calls for curbs on payday lending, citing risks to consumers and the institutions themselves.
Greg Smith of $4 billion Pennsylvania State Employees Credit Union joins community bankers on CDIAC panel.
Fed Beige Book shows growing strength in real estate and residential activity.
Thirteen institutions expected to also undertake loss mitigation efforts focused on foreclosure prevention in OCC/Fed settlement.
Fed governor said banks of $50 million or less in assets hit harder by need to staff up to meet compliance demands.
Fed keeps funds rate where they are, exceptionally low; Bankrate economist sees home equity opportunities.