Two credit unions speak out about regulatory consent orders. The action suggests a new public relations trend.
According to local news reports, Monterey Credit Union's mutual bank conversion effort is merely the first step.
Regulators don't have a charter conversion application from the $209 million credit union, which sent ballots to members in May.
The $209 million California credit union cites limits on business lending as its reason to leave the credit union fold.
Action from the California State regulator marks recession closure for the $246M San Diego Metropolitan Credit Union.
Credit unions, banks will be examined to make sure they are preventing unlicensed payday transactions.
The alert distributed by the California and Nevada Credit Union Leagues says this: “Take Reasonable Steps,' Bureau Says.” But what does it really mean?