Credit unions should continue to throw themselves body and soul into fighting a looming cap on debit card interchange, but should do so without any significant expectation that they will succeed.
WASHINGTON — Experts familiar with the debit interchange fight urged credit union leaders at CUNA's Governmental Affairs Conference to prepare for the best on the pending rule but prepare for the worst.
Thomas Candon, NASCUS chairman and deputy commissioner of the Department of Banking, Insurance, Securities & Health Care Administration in Vermont, discussed what his department is seeing at CUs and the internal struggles regulators are facing.
Congress hasn't scrutinized the NCUA's handling of the problems at corporate credit unions very much.
CUNA and NAFCU criticized proposed Federal Reserve rules that would increase disclosure requirements on credit protection products but had more mixed assessments of other parts of the plan.
ALEXANDRIA, Va. -- Credit unions should budget for 20-35 basis points worth of additional assessments next year, the NCUA said today.
Both CUNA and NAFCU announced efforts last week to address what they claimed were increasingly difficult and contentious relationships their member credit unions have been experiencing with their NCUA examiners.
The Federal Reserve Board has reached out to credit union trade associations as part of its first steps toward crafting a cap on debit card interchange.
CUNA has launched a Website where it says it want to hear from member credit unions about issues they have recently had with with their NCUA examiners.
Credit unions that want to be considered as potential merger and purchase and assumption partners will be able to sign up for a registry the NCUA is developing, NCUA Chairman Debbie Matz announced in a recent letter to credit unions.