While the newly launched Consumer Financial Protection Bureau has received considerable attention and criticism, the focus for most credit unions is on the NCUA’s Office of Consumer Protection.
The NCUA is going back to the drawing board on its CUSO rule and the industry is happy.
ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.
If more credit unions leave the NCUSIF, can the NCUA take steps to minimize the impact on those that remain?
ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
NAFCU is teaming up with noted card processor to offer debit interchange guidance.
Credit unions got a bit of good news when the Federal Reserve reversed itself and announced that debit interchange fees will be capped at 21 cents a transaction, up from the original proposal of 12 cents, with a 1 cent fee for fraud prevention and a five basis point allowance...
This article about the Fed's move on the interchange cap is just one of the articles that will appear in the next print edition of Credit Union Times.
NCUA chairman praises Fed's concern for small credit unions, NAFCU says rule "doesn't go as far as we would like."
Credit union trade groups are cautiously optimistic while Republicans are downright frustrated with the early moves of the new consumer bureau.