If Karnes is elected, he will be part of a growing credit union industry presence at the National Cooperative Business Association.
The Vermont showdown over whether a Montpelier credit union can keep on using “bank” and “banking” in its advertising appears headed a for a lengthy legal slog and perhaps compromise following the start of hearings last week by the state regulatory agency.
Settlement talks ordered on "narrowing or eliminating the issues that separate" Vermont State Employees Credit Union, state over use of "bank", "banking" in marketing.
Hearing on proposed cease-and-desist order set for Wednesday.
The Vermont clash over the words “bank” or “banking” widened last week as CUNA, two state leagues and credit union executives weighed in.
Palmetto State credit union's attorney asks Vermont regulator to ensure trademarked "Every Day is Bank Transfer Day" is protected.
The banking industry’s longstanding effort to deter or prevent credit unions from using the words “bank” and “banking” in advertising was advanced to a new plateau last week with a proposed cease and desist order placed by the state’s top regulator on the $600 million Vermont State Employees Credit Union.
Association of Vermont Credit Unions asks state regulator to relent on order, saying "consumers use the term to describe what they're doing" not where.
CEO Steven Post said he has asked Vermont regulator for more information about complainant and expects hearing on appeal in four to six weeks.
Vermont’s fourth largest credit union, the $346 million Vermont Federal Credit Union, may be charting new ground in dealing with the Occupy movement. It now has a Burlington activist on its board.