CUNA Mutual, the NCUA and trades respond to the CFPB's announcement it will review checking account screening procedures.
The CFPB will review how credit unions use reporting agencies to screen members when they open a checking account.
More than seven in 10 new Roth IRAs are opened with contributions; traditional IRAs created through rollovers
The credit unions didn't file required reports with the U.S. Treasury.
The SIGTARP quarterly report names six credit unions that never reported how the taxpayer funds were used.
Differences between the NCUA's risk-based proposal and Basel III requirements will make credit unions less competitive and less able to accumulate capital.
The $72 million PowerNet Credit Union in Tampa, Fla., has promoted its 12-year chief financial officer Don Prue to CEO, leaving Tim McMurry with the title of president after more than 37 years as president/CEO, the credit union's board announced.
According to a release, CEO Don Prue will lead the credit union while President Tim McMurry will focus on membership and active participation.
This Opinion piece looks at how credit unions can use new tools continue to compete in a world without credit cards.
Now that the NCUA board has approved a proposal that would require all CUSOs to file financial reports directly with the regulator and the appropriate state supervisory authority, some CEOs of member business lending CUSOs have weighed on what the the changes may mean for their operations.