New competitors, old products, balky regulators and a whole new generation of disintermediated consumers could spell disaster.
In contrast to current meteorological trends, predictions for the coming regulatory climate, according to one consultant, show escalating temperatures with little chance of relief.
Continuity Control consultant sees scrutiny moving downstream to smaller financial institutions.
Standards are not mandates, agencies say.
Maryland's financial regulator and the FDIC have approved the purchase of Advance Mutual Savings Bank in Baltimore by Municipal Employees Credit Union of Baltimore.
A consumer coalition voiced support to federal financial regulators attempts to prevent payday lenders from using the electronic check system to debit their customer's checking accounts for loan payments.
MECU awaits only member vote to buy Advance Bank of Baltimore.
If a credit union or other mortgage lender makes the business decision to only offer qualified mortgages, that fact alone would not increase the likelihood of a fair lending exam.
Group of groups call for regulator attention to payday lenders using automatic check debits.
Dodd-Frank mandate requires CUs with more than 100 employees to file annual diversity self-assessments. NCUA will not use the exam process to assess diversity.